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If the current exchange rate is 51.50/pound, the one-year forward exchange rate is $1.65/pound, and the interest rate on British government bills is 9.20% per

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If the current exchange rate is 51.50/pound, the one-year forward exchange rate is $1.65/pound, and the interest rate on British government bills is 9.20% per year, what risk-free dollar denominated return can be locked in by investing in the British bills? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Risk-free return %

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