3. You are given the following hypothetical quotes. Spot exchange rates: :$1.18651.1870 $:108.10108.20 Problems 71 Three-month interest rates (percent per year): in$5541in31/431/2in14111/2 What should the quotes be for the following? a. : spot exchange rate. b. :\$ three-month forward ask exchange rate. Hint: Buying euros forward is equivalent to borrowing dollars to buy euros spot and investing the euros. c. \$: three-month forward bid exchange rate. d. $: three-month forward bid and ask exchange rate