Diamond Bank expects that the Singapore dollar will depreciate against the dollar from its spot rate of $.43 to $.42 in 60 days. The following  interbank lending  and borrowing  rates exist:   Lending Rate Borrowing Rate U.S. dollar 7.0% 7.2% Singapore dollar 22.0% 24.0%   Diamond Bank considers borrowing 10 million  Singapore dollars in the interbank market a nd investing  the funds in dollars for 60 days. Estimate the profits (or losses) that could be earned from this strategy. Should  Diamond Bank pursue this strategy?

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