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The spot rate between Canada and the U.S. Is Can$1.2404/$, while the one-year forward rate is Can$1.2403/$. The risk-free rate in Canada is 4.35 percent

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The spot rate between Canada and the U.S. Is Can$1.2404/$, while the one-year forward rate is Can$1.2403/$. The risk-free rate in Canada is 4.35 percent and risk-free rate in the United States is 2.62 percent. How much in profit can you earn on $5,000 utilizing covered interest arbitrage? Multiple Choice 0 $76.06 $69.54 $86.08 $86.92 $96.84

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