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Problem 6-7 (algorithmic) Question Help Kamada: CIA Japan (A). Takeshi Kamada, a foreign exchange trader at Credit Suisse (Tokyo), is exploring covered interest arbitrage possibilities. He wants to invest $4,950,000 or its yon equivalent in a covered interest arbitrage between U.S. dollars and Japanese yen. He faced the following exchange rate and interest rate quotes Is CIA profit possible? If so, how? Arbitrage funds available Spot rate (1/5) 180-day forward rate (1/5) US dollar annual interest rate Japanese yen annual interest rate $ 4.950,000 118.51 117.87 0 T 4.807% 3.398 % The CIA profit potential is %, which tells Takeshi Kamada that he should borrow to lock in a covered interest arbitrage (CIA) profit. (Round to and invest in the higher yielding currency Ject from the drop-down menus.) the Japanese yeni the US dollar Enter your answer in the answer box and then click Check Answer 1 part remaining Clear All Final Check dtv A W