Can you correct this step by step please? I want to understand. I've already used chatgdp and other AIs $($it is wrong answer$)$ if i$\text{'}$m asking the question here it's because i want a real answer from a true expert! Please i want expert answer and explaination. I dont want gdp copy and paste

Question $3$: James Clark is a foreign exchange trader with Citibank. He notices the following quotes:

Spot exchange rate USD $1\mathrm{.}2051/$CHF

One$-$year forward exchange rate USD $1\mathrm{.}1922/$CHF

One$-$year $ interest rate $8\%$ per year

One$-$year CHF interest rate $10\%$ per year

Is there an arbitrage opportunity? If yes, determine the arbitrage profit in Swiss Francs. Assume that James Clark is authorized to work with $$1,000,000.$