Sheila Thompson, a foreign exchange trader at JP Morgan Chase, can invest $1M, or the foreign currency equivalent of the bank's short-term funds, in an uncovered or covered interest arbitrage with the United Kingdom. Arbitrage funds available to invest $1M (or the equivalent in pounds) Spot rate ($/) 1.4788 1.4493 90-day forward exchange rate ($/) Expected 90-day spot exchange rate ($/) 1.3898 U.K. pound 90-day interest rate 5.75% 1. Should Sheila make an uncovered investment in the UK? Show your work to receive full credit. 2. Should Sheila make an covered investment in the UK? Show your work to receive full credit