(2)(a)What is covered interest arbitrage? How is it different from triangular arbitra (b)Consider the following market information: Spot rate for the Canadian dollar C$...$0.80 90 day Canadian interest rate 4% 90 day forward rate for the s... 90 day U.S. interest rate 2.5% .0.79 (a)Given this information, in covered interest arbitrage? Provide quantitative explanation. (u)lf covered interest arbitrage is feasible, determine the profit the investor could earn. )ls there evidence of interest rate parity between U.S and Canada? Explain