Assume the following information:
Spot rate of Canadian dollar ...........= $.80
90-day forward rate of Canadian dollar ........= $.79
90-day Canadian interest rate ............= 4%
90-day U.S. interest rate ..............= 2.5%

Given this information, what would be the yield (percentage return) to a U.S. investor who used covered interest arbitrage? (Assume the investor invests $1 million.) What market forces would occur to eliminate any further possibilities of covered interest arbitrage?