Calmes Jr. is a foreign exchange trader for a bank in New York. He has $1 million (or its Swiss franc equivalent) for a short-term money market investment and wonders if he should invest in U.S. dollars for three months, or make a covered interest arbitrage investment in the Swiss franc. He faces the following quotes: Calmes Jr. has decided to perform a CIA transaction. Based on the above information, what will be Calmes Jr losses/profits and the annualized 90-days return on investment?

		A Profit $1,538.46 with an annual return of 0.62%
		A Loss of $1,538.46 with a negative annual return of 0.62%
		A profit of SFr. 1,538.46 with an annual return of 0.62%
		A Loss of SFr. 1,538.46 with a negative annual return of 0.62
		None of the above