Assume the following information: 1-year deposit rate offered on U.S. dollars 2.5% 1-year deposit rate offered on Singapore dollars 40% 1-year forward rate of Singapore dollars $0.78 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. F2 0 F3 F6 PrtScn F8 Home F9 End F10 A & % 5 ) 3 6 7 8 9 0 V E RT Y U o P