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The spot rate between Canada and the U.S. is Can$1.2452/$, while the one-year forward rate is Can$1.2451/$. The risk-free rate in Canada is 4.67 percent

The spot rate between Canada and the U.S. is Can$1.2452/$, while the one-year forward rate is Can$1.2451/$. The risk-free rate in Canada is 4.67 percent and risk-free rate in the United States is 2.78 percent. How much in profit can you earn on $13,000 utilizing covered interest arbitrage?

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