Copenhagen Covered $($A$).$ Heidi H$$i Jensen, a foreign exchange trader at JPMorgan Chase, can invest $$4\mathrm{.}9$ million or the Danish kroner $(kr)$ equivalent, of the bank's short$-$term funds in a covered interest arbitrage with Denmark. Using the following quotes, $,$ can Heidi make a covered interest arbitrage $($CIA$)$ profit?

The CIA profit potential is $0\mathrm{.}398\%,$ which tells Heidi H$$i Jensen that sh$$ should borrow U$.$S$.$ dollars and invest in the higher yielding currency the Danish krone, for CIA profit. $($Round to three decimal places and select from the drop$-$down menus.$)$

Heidi H$$i Jensen generates a covered interest arbitrage $($CIA$)$ profit of $$.($Round to the nearest cent.$)$

$($Click on the following icon $$ in order to copy its contents into a spreadsheet.$)$

Arbitrage funds available

$$4,900,000$

Spot exchange rate $)=($$$1\mathrm{.}00$

$6\mathrm{.}1719$

$3-$month forward rate $)=($$$1\mathrm{.}00$

$6\mathrm{.}1975$

U$.$S$.$ dollar $3-$month interest rate

$3\mathrm{.}050\%$

Danish krone $3-$month interest rate

$5\mathrm{.}100\%$