12. Assume that 90-day U.S. securities have a 3.1% annualized interest rate, whereas 90- day Canadian securities have a 4.5% annualized interest rate. In the spot market, 1 U.S. dollar can be exchanged for 1.45 Canadian dollars. If interest rate parity holds, what is the 90-day forward rate exchange between U.S. and Canadian dollars (in terms of Canadian dollars per U.S. dollar)? A. C$ 1.3914/$1 B. C$ 1.4550/$1 C. C$ 1.5186/$1 D. C$ 1.5822/$1 E. C$ 1.6458/$1