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Bank of America quoted the 180-day forward rate on the Japanese yen at $0.009702/. The spot rate was quoted at $0.009466/. What is the forward premium or discount on the Japanese yen? (Round your final answer to the nearest percentage.)

WRONG ANSWER: 5%.

Problem 21.02 Sheridan Corporation's recent sale to a firm in Mexico produced revenues of 14,130,000 Mexican pesos (MPs). If the firm sold the pesos to its bank and was credited with $974,970.00, what was the spot rate at which the pesos were converted?(Round answer to 4 decimal places, e.g. 15.2578.)

WRONG ANSWER: Spot rate = 14130000 Mexican pesos $974970

1$=14.4928 Mexican pesos

Problem 21.23

The foreign exchange department at Tokyo's Daiwa Bank quoted the spot rate on the euro at 0.007295/. The 90-day forward rate is quoted at a premium of 5.10 percent on the euro. What is the 90-day forward rate?(Round answer to 6 decimal places, e.g. 15.251945. Use 360 days for calculation.)

WRONG ANSWER: The 90-day forward rate is 0.007388/.

I am required to correct the above answers. Can you please help me with these problems?

Thanks