Assume the following information: You borrowed $1,000,000 from the US Bank and want to invest that money in the UK market in 90 days. Current spot rate of pound = $1.30/bp 90 day forward rate for pound in the Forward market = $1.28/bp 3 month deposit rate in US = 3% annual 3.month deposit rate in UK = 4% annual If you use covered interest arbitrage for a 90 day investment, what will be the amount of Net US$ profit which is riskless you will have after 90 days? around $95,700 around $97,400 around $93,700 around $91,240