Assume the following information: Quoted Price Spot rate of Canadian dollar $0.80 90 day forward rate of Canadian dollar $0.78 90 day Canadian interest rate 5% 90 day U.S. interest rate 2.2% Given this information, what would be the yield (percentage return) to a U.S. investor who used covered interest arbitrage? (Assume the investor invests $5 million.) Round your answer to one decimal place. % What market forces would occur to eliminate any further possibilities of covered interest arbitrage? I. The Canadian dollar's spot rate should rise, and its forward rate should rise; in addition, the Canadian interest rate may fall and the U.S. interest rate may fall. II. The Canadian dollar's spot rate should rise, and its forward rate should fall; in addition, the Canadian interest rate may fall and the U.S. interest rate may rise. III. The Canadian dollar's spot rate should fall, and its forward rate should rise; in addition, the Canadian interest rate may rise and the U.S. interest rate may fall. -Select- V