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Question 1 2 pts (Problem 3) Currently, the spot exchange rate is $1.50/ and the three-month forward exchange rate is $1.52/. The three-month interest rate is 8.0% per annum in the U.S. and 5.8% per annum in the U.K. Assume that you can borrow as much as $1,500,000 or 1,000,000. 1. Determine whether the interest rate parity is currently holding (just enter either yes or no): if your answer is yes, just type in yet, if your answer is no, just enter no. 2. If the IRP is not holding, compute and enter the total amount of arbitrage profit in dollars (if your profit is $2,000.00. just enter "2,000", i.e., round to zero decimal)