1. A currency trader observes that in the spot exchange market, 1 U.S. dollar can be exchanged for 3.59 Israeli shekels or for 110.61 Japanese yen. What is the cross-exchange rate between the yen and the shekel; that is, how many yen would you receive for every shekel exchanged? Round your answer to the nearest sen. Note: A sen is 1/100th of a yen. yen per shekel 2. Interest rate parity Six-month T-bills have a nominal rate of 5%, while default-free Japanese bonds that mature in 6 months have a nominal rate of 2%. In the spot exchange market, 1 yen equals $0.0115. If interest rate parity holds, what is the 6-month forward exchange rate? Round your answer to five decimal places