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Assume that the spot rate of the Brazilian real is 50.35 . The annual U.S. interest rate is currently 4 percent and Brazilian annual interest

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Assume that the spot rate of the Brazilian real is 50.35 . The annual U.S. interest rate is currently 4 percent and Brazilian annual interest rate is currently 10 percent. Assume. that interest rate parity exists. Determine the one-year forward rate of the Brazlian real. Do not round intermediate calculations. Round your aniswer to the nearest cent. 3

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