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If the current exchange rate is $2.00$, the 1-year forward exchange rate is $2.20/, and...

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If the current exchange rate is $2.00$, the 1-year forward exchange rate is $2.20/, and the interest rate on British government bills is 4% per year, what risk-free dollar-denominated return can be locked in by investing in the British bills? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Risk-free dollar-denominated 13.40 % return

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