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Today, the one$-$year U$.$S$.$ interest rate is $3$ percent, while the one$-$year interest rate in Argentina is $11$ percent. The spot rate of the Argentine peso $($AP$)$ is $$0\mathrm{.}49.$ The one$-$year forward rate of the AP exhibits an $11\%$ discount. Determine the yield $($percentage retrun on investment$)$ to an investor from Argentina who engages in covered interest arbitrage. Do not round intermediate calculations. Round your answer to two decimal places.

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