Heidi, a foreign exchange trader at J.P. Morgan Chase, can invest $5 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 covered interest arbitrage (CIA) profit?

5. Heidi, a foreign exchange trader at J.P. Morgan Chase, can invest $5 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 covered interest arbitrage (CIA) profit? Assumptions Value Arbitrage funds available $5,000,000 Spot exchange rate (kr/$) 6.1720 3-month forward rate (kr/$) 6.1980 US dollar 3-month interest rate 3.000% per annum Danish kroner 3-month interest rate 5.000% per annum