"The US risk-free rate is 11% and the Mexico rate is 6%. The spot and 11-month forward exchange rates are 19.4 and 20.7 peso/$, respectively. Find the covered interest arbitrage profit (expressed in $) you'll make in11 months if you can borrow either $1M or its equivalent in pesos?"

"111,771"

"93,143"

"98,309"

"99,009"

"96,477"