The forward rate of the Canadian dollar is $0.98. a. Is covered interest arbitrage feasible for U.S. investors? Show the results if a U.S. firm engages in covered interest arbitrage to support your answer. Dot round intermediate calculations. Round your answer to two decimal places. U.S. investors benefit from covered interest arbitrage because U.S. investors would generate a yield of %, which the U.S. interest rate of 9 percent. of the Canadian dollar will be affected? If so, state whether it will increase or decrease, and explain why. The forward rate of the Canadian dollar should due to the heavy forward of the Canadian dollar that will occur as a result of covered interest arbitrage