Given the following facts answer the following: (15 pts.) Three month #2 interest rate 3.20%; Six month interest rate 3.59%; Three month S interest rate 5.25%; Six month S interest rate 5.45% Spot rate $/ $1.0990 Transaction date: April 20, 2023 Make sure you clearly label the units for your answers. (Show your work.) a. What are the forward outright exchange rates for the USD versus the Euro for settlement on July 24, 2023 and October 24, 2023 based on these interest rates? State why this is the settlement date I provided is the correct date to use. b. Now look up the three month forward points on the chart below. Use those points the \"arbitrage" profit available by investing in a deposit in each currency versus using a forward exchange transaction. Use the Mid-price or Midpoint rate. i. How much would one make or lose per Euro 1,000,000 invested if you deposited money in Euro and borrowed USD and hedged with a forward swap? ii. How much would one make or lose per Euro 1,000,000 invested if you deposited money in USD and borrowed Euro and hedged with a forward swap? Euro/U.S. Dollar (^EURUSD) 1.09696 +0.00139 (+0.13%) 10:27 CT [FOREX] 1.09694 1.09696 FORWARD RATES for Thu, Apr 20th, 2023 Alerts ! Watch * 1 Forward Rates Name Bid Ask Mid Price Time EUR/USD Overnight Forward 0.58000 0.59000 0.58500 06:55 ET EUR/USD Tomorrow Forward 1.77200 1.78000 1.77600 06:55 ET EUR/USD Spot Forward 0.59700 0.60200 0.59950 08:31 ET EUR/USD 1-Week Forward 4.79000 4.84000 4.81500 10:15 ET EUR/USD 2-Week Forward 8.64000 8.79000 8.71500 10:15 ET EUR/USD 3-Week Forward 12.92000 13.07000 12.99500 10:15 ET EUR/USD 1-Month Forward 18.07000 18.52700 18.30400 10:27 ET EUR/USD 2-Month Forward 37.61000 37.91000 37.74000 10:27 ET EUR/USD 3-Month Forward 52.95400 54.33600 53.68600 10:27 ET EUR/USD 4-Month Forward 69.00000 69.60000 69.30001 10:26 ET EUR/USD 5-Month Forward 84.40000 85.00000 84.60000 10:27 ET EUR/USD 6-Month Forward 97.60000 98.30000 97.95000 10:26 ET EUR/USD 7-Month Forward 109.20000 110.20000 109.70000 10:27 ET EUR/USD 8-Month Forward 120.60000 121.60000 121.20000 10:26 ET EUR/USD 9-Month Forward 138.20000 139.20000 138.80000 10:27 ET EUR/USD 10-Month Forward 147.70000 149.20000 148.55000 10:27 ET EUR/USD 11-Month Forward 155.20000 156.70000 156.05000 10:27 ET EUR/USD 1-Year Forward Screenshot 164.60001 166.10001 165.45000 10:27 ET