You work on the foreign exchange desk of Credit Capital, and you observe the following information:

Spot rate of Canadian dollar = $0.70%

90-day Forward rate of Canadian dollar = $0.69%

90-day Canadian interest rate = 5%

90-day U.S. interest rate = 3.5%

Based on the above information, what would be the yield to a U.S. investor who used covered interest arbitrage (Assume the investor invests $2,000,000)