Let's assume the following information:
Current spot rate of Canadian dollar = $0.75
Forecasted spot rate of Canadian dollar 1 year from now = $.83
One-year forward rate of the Canadian dollar = $0.73
Annual interest rate on Canadian dollars = .07
Annual interest rate on U.S. dollars = .09
Given the information in this question, the return from covered interest arbitrage by U.S. investors with $430,000 to invest is about _______.