Suppose that the current spot exchange rate is 1.50/6 and the one year forward exchange rate is 1.60/. The one-year interest rate is 1.4% in euros and 5.2% in pounds. You can borrow at most 61,000,000 or the equivalent pound amount, L, 6666,667, at the current spot exchange rate Assume that you are a euro-based investor Show how you can realize a guaranteed profit from covered interest arbitrage and determine the size of the arbitrage profit by answering the following questions: 3. Does IRP hold? (Answer for Yew Answer 2 for No) b. Which currency should you borrow money from? (Answer 1 for Anwwer 2 fork). c. What will be your total debt in one year? (Arwwer with just the number. No comma or symbols) d. After using the borrowed money and make an investment in another market, how much is your artitrage profit? (Answer with just the number No comma ar symbols)