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Assume: (1) the US annual interest rate = 8.44%; (2) the Malaysian annual interest rate = 4.27%; and (3) the 66-day forward rate for the

Assume: (1) the US annual interest rate = 8.44%; (2) the Malaysian annual interest rate = 4.27%; and (3) the 66-day forward rate for the Malaysian ringgit = $0.344. At what current spot rate will interest rate parity hold (keep 4 decimals)? SHOW WORK

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