The one-year forward MXN should depreciate versus the CAD. The spread between MXN and CAD interest rates should widen. The spread between MXN and CAD interest rates should narrow. Identify the profit to be realized in one year from a profitable covered interest arbitrage trade. MXN 990,000 equivalent to CAD 61,875 MXN 720,000; equivalent to CAD 45,000,353 MXN 17.04 million, equivalent to CAD 1,065,000