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Marcela is a foreign exchange trader at BigInternational Bank.She is interested in pursuing a covered interest arbitrage opportunity.Using the following quotes,what would Marcela'sCIA profit or

Marcela is a foreign exchange trader at BigInternational Bank.She is interested in pursuing a covered interest arbitrage opportunity.Using the following quotes,what would Marcela'sCIA profit or lossbe if she borrowed $1 million in US dollars for three months, and invested it in a Danishkroner interest bearing account for three months?

Submit your answer with two decimal places. Your answer should be in US$, but do not include the $ sign.

Spot exchangeratekr6.1720/$

3 month forward ratekr 6.1980/$

U.S. dollar three month interest rate4.00% per annum

Danish kroner three month interest rate6.00% per annum

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