Casper Landsten-CIA (A). Casper Landsten is a foreign exchange trader for a bank in New York. He has

$0.950.95 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 CIA investment in the Swiss franc. He faces the following quotes:

Arbitrage funds available	$	950,000
Spot exchange rate (SFr/$)		1.2812
3-month forward rate (SFr/$)		1.2737
U.S. Dollar annual interest rate		4.798	%
Swiss franc annual interest rate		3.203	%

The CIA profit potential is __________ which tells Casper Landsten he should borrow ________

and invest in the ________yielding currency, the ___________

, in order to earn covered interest arbitrage (CIA) profits.(Round to three decimal places and select from the drop-down menus.)The CIA profit amount is _________ (Round to the nearest cent.)