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IBM has accepted a project for the Mexican government, for which it will receive 8 0 million pesos in 7 years. The current exchange rate

IBM has accepted a project for the Mexican government, for which it will receive 80 million pesos in 7 years. The current exchange rate is $0.055 per peso. To hedge its exposure to the exchange rate, the company will use a forward contract to sell all pesos in 7 years. The annual interest rate over 7 years is 4% in the U.S. and 6% in Mexico. What is the 7-year forward rate if interest rate parity holds (in $ per peso)?

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