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Assume the current spot rate is Can$1.362 and the one-year forward rate is Can$1.371. The nominal risk-free rate in Canada is 6 percent while the

Assume the current spot rate is Can$1.362 and the one-year forward rate is Can$1.371. The nominal risk-free rate in Canada is 6 percent while the U.S. rate is 3.5 percent. Using covered interest arbitrage you can earn an extra profit of ___ for every $1 invested over the next year.

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