Question 6 (a) Ann is a foreign exchange trader based in the United Kingdom. She is studying on the exchange rate between US Dollar and Great British Pound. She has decided to take the opportunity on the currency changes. She is able to borrow 500,000 in money market for 180 days. The spot rate of GBP today is USD1.50 per and 180 days' forward rate is USD 1.47 per . The followings are the inter-bank lending and borrowing rates. UK US 180 days deposit rate 4.0% 4.5% 180 days borrowing rate 5.0% 5.5% Based on the information given, calculate the profit / (loss) that Ann can earned from this strategy. (12 marks)