E2. James Clark is a foreign exchange trader with Citibank. He notices the following quotes . Spot exchange rate: $1.1015/ Six-month forward exchange rate: S 1.1122/ Six-month $ interest rate: 1.0% per year Six-month interest rate: 2.5% per year Is the interest rate parity holding? You may ignore transaction costs. You must show your calculations for determining that IRP does or does not hold. For full and dropbox after completing the exam. Show your calculation steps in a way that I can understand for partial credit you must post your calculation and explanations to this Exam's Yes No Not possible to determine