assume zero transactions costs and direct exchange rate quotation, use the following information to answers: spot rate of the mexican peso = c$0.44 1-year canadian interest rate = 5% 1-year mexican interest rate = 16% 1-year forward rate of the mexican peso = $0.38 a) determine whether interest rate parity (irp) exists. ( 4 marks) b) according to ip, is the quoted forward rate too high or too ow ( 4 marks) c) explain if covered interest arbitrage is feasible for any investor? ( 4 marks) d) based on you answer for part c, compute the profit for the investor who uses two hundred thousand units of his home currency to conduct covered interest arbitrage. ( 4 marks) el what is the yield/return to the investor based on your answer to part d. (4 marks)