Casper$$ Landsten$-$UIA $($B$).$ Casper Landsten is a foreign exchange trader for a bank in New York. Using the values and assumptions$$ below, he decides to seek the full $4\mathrm{.}805\%$ return available in U$.$S$.$ dollars by not covering his forward dollar receiptslong dashan uncovered interest arbitrage$($UIA$)$ transaction. Assess this decision.

Arbitrage funds available

$

$900,000$

Spot exchange rate $($SFr$/$$$)$

$1\mathrm{.}2805$

$3-$month forward rate $($SFr$/$$$)$

$1\mathrm{.}2742$

Expected spot rate in $90$ days $($SFr$/$$$)$

$1\mathrm{.}2696$

U$.$S$.$ Dollar annual interest rate

$4\mathrm{.}805$

$\%$

Swiss franc annualinterest rate

$3\mathrm{.}203$

$\%$

Question content area bottom

Part $1$

The uncovered interest arbitrage$($UIA$)$ profit amount is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$