Assume interest rate parity holds. The one-year risk-free rate in the U.S. is 2.74 percent and the one-year risk-free rate in Japan is 3.15 percent. The spot rate between the Japanese yen and the U.S. dollar is 110.97/$. What is the one-year forward exchange rate?

110.53/$

110.97/$

111.41/$

113.28/$

114.25/$