Find the forward rate of foreign currency Y if the spot rate is $4.40 per unit of foreign currency, the domestic interest rate is 5 percent, the foreign interest rate is 7 percent, and the forward contract is for nine months. Note that the domestic currency is the dollar, and Y represents $/(unit of foreign currency).

Select one:

a. $4.463

b. $4.458

c. $5.104

d. $4.338

e. None of the above