14. You are given the following Government bond yields: one year U.S. dollar denominated bonds are 5 percent and one year Swiss franc denominated bonds are 3 percent. If the current exchange rate is 1.65 Swiss francs per U.S. dollar, what is the exchange rate of francs per dollar in one year at which you will break even on the risky arbitrage of borrowing in Swiss francs at 3 percent today, lending in U.S. dollars at 5 percent today and reversing the transaction in one year (a) 1.6820 (b) 1.6186 (e) 1.6500 (d) 1.5728