A mutual fund purchases a $9$ month US $$5000000$ Eurodollar deposit at an annual interest rate of $5\mathrm{.}85\%.$ It invests the funds in a $9-$month swiss Franc AA$-$rated bond paying $6\mathrm{.}35\%$ per year. The current spot rate is US $$1\mathrm{.}19/$SFr$.$ The $9-$month forward rate on the swiaa Franc is being quoted at US$$1\mathrm{.}1950/$SFr$.$ What is the net annual spread earned on this investment if the bank covers its foreign exchange exposure using the forward market in $\%?$