Assume the Following Information:
You Have $1,000,000 to Invest If You Use Covered Interest Arbitrage for a 90-Day Investment

Assume the following information:
You have $1,000,000 to invest:
$\begin{array} { l l l } \text { Current spot rate of pound } & = & \$ 1.30 \\90 \text { - tay forward rate of pound } & = & \$ 1.28 \\\text { 3-month deposit rate in U.S. } & = & 3 \% \\\text { 3-month deposit rate in Great Britain } & = & 4 \%\end{array}$
If you use covered interest arbitrage for a 90-day investment, what will be the amount of U.S. dollars you will have after 90 days?

A) $1,024,000.
B) $1,030,000.
C) $1,040,000.
D) $1,034,000.
E) none of the above