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Assume that interest rate parity exists. You expect that the one-year nominal interest rate in the United States is 4 percent, while the one-year nominal

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Assume that interest rate parity exists. You expect that the one-year nominal interest rate in the United States is 4 percent, while the one-year nominal interest rate in Australia is 9 percent. The spot rate of the Australian dollar is $0.52. You will need 10 million Australian dollars in one year. Today, you purchase a one-year forward contract in Australian dollars. How many U.S. dollars will you need in one year to fulfill your forward contract? Do not round Intermediate calculations. Round your answer to the nearest dollar $

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