Assume the following information is available for the United States and Europe: a. Does IRP hold? IRP in this case. b. According to PPP, what is the expected spot rate of the euro in one year? Do not round intermediate calculations. Round your answer to three decimal places. $ c. According to the IFE, what is the expected spot rate of the euro in one year? Do not round intermediate calculations. Round your answer to three decimal places. $ d. Reconcile your answers to parts (a) and (c). Parts a and c combined say that the forward rate premium or discount is the expected percentage appreciation or depreciation of the euro