20 P Task 5: Quotes for the dollar and euro are as follows: Spot contract midpoint SUURUSD = 0.8771/$ One-year forward contract midpoint FEURUSD - 0.8628 One-year Eurodollar interest rate USD = 2,5% per year a. Your newspaper does not quote one-year Eurocurrency interest rates on EU euros. Make your own estimate of b. Suppose that you can trade at the prices for SEURUSD, EURUSD and LSD just given and that you can also either borrow or lend at a Thai Burocurrency interest rate of Pan 4 percent per year. Based on a $1 million initial amount how much profit can you generate through covered interest arbitrage