Copenhagen Covered (A). Heidi Hi Jensen, a foreign exchange trader at J.P. Morgan Chase, can invest $5.05 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? Arbitrage funds available $ 5,050,000 6.1716 Spot exchange rate (kr/$) 3-month forward rate (kr/$) 6.1977 U.S. dollar annual interest rate 2.900 % Danish Krone annual interest rate 5.100 % The CIA profit potential is 0.516 %, which tells Heidi Hi Jensen that she should borrow and invest in the higher yielding currency the for CIA profit. (Round to three decimal places and select from the drop-down menus.) Heidi Hi Jensen generates a covered interest arbitrage (CIA) profit of $ (Round to the nearest cent.) Copenhagen Covered (A). Heidi Hi Jensen, a foreign exchange trader at J.P. Morgan Chase, can invest $5.05 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? Arbitrage funds available $ 5,050,000 6.1716 Spot exchange rate (kr/$) 3-month forward rate (kr/$) 6.1977 U.S. dollar annual interest rate 2.900 % Danish Krone annual interest rate 5.100 % The CIA profit potential is 0.516 %, which tells Heidi Hi Jensen that she should borrow and invest in the higher yielding currency the for CIA profit. (Round to three decimal places and select from the drop-down menus.) Heidi Hi Jensen generates a covered interest arbitrage (CIA) profit of $ (Round to the nearest cent.)