Assume the Following Information

Assume the following information:
U.S.investors have $1,000,000 to invest
1-year deposit rate offered on U.S.dollars = 12%
1-year deposit rate offered on Singapore dollars = 10%
1-year forward rate of Singapore dollars = $.412
Spot rate of Singapore dollar = $.400
Given this information:

A) interest rate parity exists and covered interest arbit rage by U.S. investors results in the same yield as investing domestically.
B) interest rate parity doesn't exist and covered interest arbitrage by U.S. investors results in a yield above what is possible domestically.
C) interest rate parity exists and covered interest arbit rage by U.S. investors results in a yield above what is possible domesti cally.  
D) interest rate parity doesn't exist and covered interest arbitrage by U.S. investors results in a yield below what is possible domestically.