Assume the following Information: 1-year deposit rate offered on U.S. dollars 2.5% 1-year deposit rate offered on Singapore dollars 4.0% 1-year forward rate of Singapore dollars $0.795 Spot rate of Singapore dollar $0.80 Given this information, does covered interest arbitrage worthwhile for a US investor? Assume the Investor invests $1,000,000 (Please do not use the answer box. Email your work!) Please do not round during intermediate steps and round your final answer to four decimal places