c) Mr. Adam, a local investor, observes that the 90-day Malaysian Treasury Notes are quoted at 9.0 percent per annum whilst the 90-day US Treasury Bills are quoted at 7.0 percent per annum. The spot exchange rate is at RM4.1665 per USD and 90-day forward rate is RM4.1700 per USD. Assume that Mr. Adam has funds of RM250,000 or USD equivalent, either to borrow or invest. i) Prove that there is an opportunity for covered interest arbitrage (CIA) based on the Interest Rate Parity (IRP) equation. (4 marks) ii) Show the profit (in RM) resulting from the CIA undertaken. (6 marks)