Assume the following information:

Current spot rate of Australian dollar = $0.83

Forecasted spot rate of Australian dollar 1 year from now = $.83

One-year forward rate of the Australian dollar = $0.85

Annual interest rate on Australian dollars = .07 A

nnual interest rate on U.S. dollars = .09

Given the information in this question, the return from covered interest arbitrage by U.S. investors with $360,000 to invest is about _______