Ama doesnt believe that IFE holds. Suppose the current one year interest rate in Morroco are 15percent whilst 1year interest rate in Ghana are 13percent . Ama converts 1000000ghana cedis to Morrocan Dirhman and invests them in Morroco . one year later, she converts Dirhman to cedis . The current spot rate of Dirhman is 1.10 ghana cedis . a) According to IFE , what should be the spot rate for Dirhman ? b) if the spot rate of Dirhman in 1 year is 1 ghana cedis , what is Ama percentage return from her strategy ? c) if the spot rate of the Dirhman in 1 year is 1.08ghana cedis whats Ama percentage in return from her strategy ? d) what must the spot rate of Dirhman be in 1 year for Ama strategy to be successful ? B). Suppose the 1 year interest rate in Nigeria is 6 percent . The 1 year interest in Ghana is 10 percent . The spot rate of the naira is 0.50cedis . The forward rate of naira is 0.54cedis . Assume investment amount of 1000000cedis for ghanaians investors and 1000000naira for nigerian investors . i) Is covered arbitrage feasible for ghanaian investors ? show why ? ii) is the covered arbitrage feasible for nigerian investors and show why ?