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%x Problem 6-9 (algorithmic) Question Help Copenhagen Covered (A). Heidi Hi Jensen, a foreign exchange trader at J.P. Morgan Chase, can invest $4.9 million, or the foreign currency equivalent of the bank's short term funds, in a covered interest arbitrage with Denmark. Using the following quotes, can Heidi make a covered interest arbitrage (CIA) profit? Arbitrage funds available 4,900,000 6.1724 Spot exchange rate (kr/$) 3-month forward rate (kr/$) 6.1978 U.S. dollar annual interest rate 3.100 % Danish krone annual interest rate 5.050 % and invest in the higher yielding currency the Danish krone The CIA profit potential is .310 %, which tells Heidi Hi Jensen that she should borrow U.S. dollars for CIA profit. (Round to three decimal places and select from the drop-down menus.) Heidi Hi Jensen generates a covered interest arbitrage (CIA) profit of $ (Round to the nearest cent.)