Bid/Ask on Aussie Dollar Forward. Use the following spot and forward bid-ask rates for the U.S. dollar/Australian dollar (US$ = A$1.00) exchange rate from December 10, 2010, to answer the following questions: a. What is the midrate for each maturity? b. What is the annual forward premium for all maturities? c. Which maturities have the smallest and largest forward premiums? (Click on the icon to import the table into a spreadsheet.) Period spot 1 month 2 months 3 months 6 months 12 months 24 months Bid Rate 0.99004 0.98620 0.98288 0.97964 0.96826 0.94776 0.90643 Ask Rate 0.99031 0.98659 0.98327 0.98012 0.96883 0.94848 0.90767 a. What is the mid-rate for each maturity? Calculate the mid-rate for each maturity below: (Round to six decimal places.) Days Bid Rate Ask Rate Mid-rate Period Forward US$/AS US$/A$ US$A$ Spot 0 0.99004 0.99031