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( Covered Interest Rate Parity) You are facing the following exchange rates and interest rates. Spot rate ($) 129.9 180-day forward rate (/$) 108.38 180-day
( Covered Interest Rate Parity) You are facing the following exchange rates and interest rates. Spot rate ($) 129.9 180-day forward rate (\/$) 108.38 180-day U.S. dollar interest rate 3% 180-day Japanese yen interest rate 2% If you can borrow $1,000,000 or the equivalent amount of yen, and you can profit from the covered interest arbitrage, then your profit is $ (Please keep two decimal numbers.)
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