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The spot rate between Canada and the U.S. is Can$1.2381/$, while the one-year forward rate is Can$1.2387/$. The risk-free rate in Canada is 2.83 percent

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The spot rate between Canada and the U.S. is Can$1.2381/$, while the one-year forward rate is Can$1.2387/$. The risk-free rate in Canada is 2.83 percent and risk-free rate in the United States is 2.54 percent. How much in profit can you earn on $5,000 utilizing covered interest arbitrage? Multiple Choice $16.99 O $10.51 $12.01 $19.12 $9.61

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