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The spot rate between Canada and the U.S. is Can$1.2413/$, while the one-year forward rate is Can$1.2412/$. The risk-free rate in Canada is 4.41 percent

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The spot rate between Canada and the U.S. is Can$1.2413/$, while the one-year forward rate is Can$1.2412/$. The risk-free rate in Canada is 4.41 percent and risk-free rate in the United States is 2.65 percent. How much in profit can you earn on $6,500 utilizing covered interest arbitrage? Multiple Choice o $91.96 O O $114.95 $100.58 $113.85 $128.08

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