Assume the following information: Current spot rate of Australian dollar: $.60 Forecasted spot rate of Australian dollar 1 year from now: $.63 One-year forward rate of the Australian dollar: $.64 Annual interest rate on Australian dollars: 7% Annual interest rate on U.S. dollars: 9% From the perspective of U.S. investors with $1,000,000, covered interest arbitrage would yield a rate of return of percent. 15.50 14.13 5.00 12.35