(10 marks] Suppose you are given the following exchange rates and one-year interest rates. You have $100,000 to invest for one year. Would you benefit from engaging in covered interest arbitrage? Justify your answer and show the steps of calculations. Bid Quote Ask Quote Euro spot $1.04 $1.05 Euro-1-year forward $1.04 31.05 Deposit rate Loan rate Interest rate on dollars Interest rates on euros 5.5% 8.5% For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac) BIUS Paragraph Arial I 26 EE X X, V 10pt 11 99 40 89 V LV B B A BE X