A foreign exchange trader can invest US$3.2 million, or the foreign currency equivalent in a covered interest arbitrage. Using the following quotes, what should the 90-day forward rate be to achieve interest rate parity? (rounded) Arbitrage Funds available $3,200,000 Spot exchange rate (/US$) 1.2477 90-day forward rate (/US$) 1.2450 90-day US dollar interest rate 2.5% 90-day British interest rate 1.5% O 1.2481/US$ 1.2508/US$ 1.2355/US$ O 1.2419/US$ O 1.2446/US$