Casper Landsten-UIA (B). Casper Landsten is a foreign exchange trader for a bank in New York. Using the values and assumptions below, he decides to seek the full % return available in U.S. dollars by not covering his forward dollar receiptsan uncovered interest arbitrage (UIA) transaction. Assess this decision.

Arbitrage funds available $ 1,000,000

Spot exchange rate (SFr/$) 1.2808

3-month forward rate (SFr/$) 1.2737

Expected spot rate in 90 days (SFr/$) 1.2697

U.S. Dollar annual interest rate 4.801 %

Swiss franc annualinterest rate 3.205 %

The uncovered interest arbitrage (UIA) profit amount is?