Please show how to calculate in excel

The interest rate is 2% on the dollar and 6% on the pound sterling. Also, the current spot rate is $1.6=1 and the one-year forward rate is $1.45=1. Is there an opportunity for covered interest arbitrage? If yes, what is the arbitrage profit in terms of a percentage? Select one: a. Yes, 6.55%. b. Yes, 5.93%. C. No. x d. Yes, 5.61%. e. Yes, 6.12%. The correct answer is: Yes, 6.55%