You can trade at the following prices:

Spot rate, Mexican pesos per dollar MXN10/$

6-month forward rate for Mexican pesos MXN11/$

6-month Mexican interest rate 18%

6-month U.S. interest rate 6%

Is covered interest arbitrage worthwhile? If so, explain the steps and compute the profit based on an initial (time )
transaction of $1 million. Calculate your profit in dollars in one period.