Casper Landsten-Thirty Days Later. Casper Landsten once again has $1.1 million (or its Swiss franc equivalent) to invest for three months. He now faces the following rates. Should he enter into a covered interest arbitrage (CIA) investment?

Arbitrage funds available	$	1,100,000
Spot exchange rate (SFr/$)		1.3396
3-month forward rate (SFr/$)		1.3287
U.S. Dollar annual interest rate		4.749	%
Swiss franc annual interest rate		3.623	%

The CIA profit potential is negative which tells Casper Landsten he should borrow U.S. dollars and invest in the lower yielding currency, the Swiss franc, and then sell the Swiss franc

principal and interest forward three months locking in a CIA profit. (Round to three decimal places and select from the drop-down menus.)