A Canadian exporter, Victoria Exports, will be receiving six payments of $12,000,$ ranging from now to $12$ months in the future. Since the company keeps cash balances in both Canadian dollars and U$.$S$.$ dollars, it can choose which currency to change the euros to at the end of the various periods. Which currency appears to offer the better rates in the forward market? Please attach a file$/$worksheet showing how you calculated your answer.

Days Period Forward C$$/$euro US$$/$euro spot $1\mathrm{.}33601\mathrm{.}32211$ month $301\mathrm{.}33681\mathrm{.}32302$ months $601\mathrm{.}33761\mathrm{.}32283$ months $901\mathrm{.}33821\mathrm{.}32246$ m

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