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Assume the following information Current spot rate of New Zealand dollar = $0.41 Forecasted spot rate of New Zealand dollar 1 year from now =

Assume the following information

Current spot rate of New Zealand dollar = $0.41
Forecasted spot rate of New Zealand dollar 1 year from now = $0.43
One-year forward rate of the New Zealand dollar = $0.42
Annual interest rate on New Zealand dollars = 0.075
Annual interest rate on U.S. dollars = .09

Given the information in this question, the return from covered interest arbitrage by U.S. investors with $479,000 to invest is about ________.

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