Assume the Spot Rate Between the UK and the U

Assume the spot rate between the UK and the U.S.is £.6789 = $1, while the one-year forward rate is £.6782 = $1.The risk-free rate in the UK is 3.1 percent.The risk-free rate in the U.S.is 2.9 percent.How much profit can you earn for the year on a loan of $1,500 by utilizing covered interest arbitrage?

A) $4.09
B) $2.78
C) $3.15
D) $4.60
E) $3.55