Lamira Turnata, a foreign exchange trader at Deutsch Bank (Tokyo), is exploring covered interest arbitrage possibilities. He wants to invest $5,000,000 or its yen equivalent, in a covered interest arbitrage between U.S. dollars and Japanese yer. He faced the following exchange rate and interest rate quotes. Yen Assumptions Value Equivalent Arbitrage funds available $1,000,000 110,600,000 Spot rate (1) 110.60 180 day forward rate (US) 112.80 180-day U.S. dollar 2.500% tnterest rate 180-day Japanese yen interest 1.200% rate Given the calculate change in exchange rates based on the interest rate differentials and the calculated forward premium discount calculated below, which transaction would give you an arbitrate profit. 66F