This problem is worth 20 points Given the following information, assess in detail whether covered interest arbitrage is possible for U.S. investors based on the following information. What is the US$ profit for the U.S. investor attempting to conduct covered interest arbitrage in Japan? Funds available for U.S. investor US$5,000,000 1-year interest rate in U.S. 12% 1-year interest rate in Japan 1-year forward rate of Japanese yen US$0.0100 Spot rate of Japanese yen US$0.0092 6% This problem is worth 10 points Based on the information above, what forward rate eliminates the possibility of coverage interest rate arbitrage