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An Ameritan furm owes 5.549.217 British Pounds payable in one year. The current spot rate is $1.464/ pound. A UK bank is paving 3.5% on

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An Ameritan furm owes 5.549.217 British Pounds payable in one year. The current spot rate is $1.464/ pound. A UK bank is paving 3.5% on deposits or will lend at 4.5%. A us bank is paying 5.1% on deposits or will lend at 6.8%. The firm will hedge this exposure with money market hedging. What is the effective exchange rate

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