Quoted Price Spot rate of Canadian dollar 90 day forward rate of Canadian dollar 90 day Canadian interest rate 90 day U.S. interest rate $.80 $.79 4% 2.5% 1) Given this information, what would be the yield (percentage return) to a U.S. investor who used covered interest arbitrage? Assume the investor invests $1,000,000. 2) What market forces would occur to eliminate any further possibilities of covered interest arbitrage?