Assume the following information:
Current spot rate of New Zealand dollar = $0.41
Forecasted spot rate of New Zealand dollar 1 year from now = $0.43
One-year forward rate of the New Zealand dollar = $0.42
Annual interest rate of New Zealand dollars = 0.075
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 $560,000 to invest is about______________