A Japanese investor assumes that the IFE does not hold. Suppose interest rates are 6% in the U.S. and 1% in Japan. The initial exchange rate is 100/$. What is the percentage rate of return for a Japanese investor who starts with 1,000,000 assuming that over the year the exchange rate goes to 97/$? A. 3.00% B. 2.82% C. 8.16% D. 4.00%