A trader would like to enter a 9-month Kenya Shillings currency forward contract. The spot exchange rate is four Nigerian Naira per Kenya Shillings. The interest rates in Kenya and Nigeria are 10% and 18% respectively. Required (i) Calculate the price of the currency forward contract (5 marks) (ii)Suppose the quoted price forward rate is three Nigerian Naira per Kenya Shillings, demonstrate the arbitrage strategy. Show your workings. (10 marks)