Assume the following current information:

(i) The deposit rate on Euro-yen 6-month deposits = 3% per annum

(ii) The deposit rate on Cdn $ 6-month deposits = 4% per annum

(iii) The 6-month forward exchange rate: 1.0 = C$ 0.0125

(iv) The current spot exchange rate: 1.0 = C$ 0.0120

Does the given data satisfy the interest rate parity? If there is a covered interest arbitrage opportunity, find arbitrage profit for transaction size of C$ 1.0 million or 83.33333 million