The Next Questions Refer to the Following

Multiple Choice

The next questions refer to the following.
Suppose the yen-pound exchange rate is currently £1 = ¥300. A Japanese bank borrows £2 million from UK lenders for 1 year at 6% interest, and lends ¥600 million to Japanese borrowers for 1 year at 8% interest.
-The bank's expected net gain is

A) ¥40,000
B) ¥48,000
C) ¥360,000
D) ¥12,000,000
E) ¥24,000,000