Copenhagen Covered (A). Heidi Hi Jensen, a foreign exchange trader at J.P. Morgan Chase, can invest $5.1 million, or the foreign currency 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? $ 5,100,000 6.1716 Arbitrage funds available Spot exchange rate (kr/$) 3-month forward rate (kr/$) U.S. dollar annual interest rate 6.1977 3.050 % Danish Krone annual interest rate 4.950 % and invest in the higher yielding currency the for CIA profit. (Round to The CIA profit potential is %, which tells Heidi Hi Jensen that she should borrow three decimal places and select from the drop-down menus.)