Casper Landsten-Thirty Days Later. Casper Landsten once again has $ 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 $950,000

Spot exchange rate (SFr/$) 1.3393

3-month forward rate (SFr/$) 1.3283

U.S. Dollar annual interest rate 4.749%

Swiss franc annual interest rate 3.628%

The CIA profit potential is _________%%, which tells Casper Landsten he should borrow Swiss francs

0r U.S. dollars, and invest in thehigher or lower , yielding currency, the Swiss franc or U.S. dollar,

and then sell the Swiss franc or U.S. dollar principal and interest forward three months locking in a CIA profit. (Round to three decimal places and select from the drop-down menus.)