If the forward rate consistently underestimates the future spot rate, then which of the following is the logical conclusion? Assume that there are zero transactions costs and interest rate parity exists.Select one: a$.$ on average, the foreign effective financing rate is greater than the domestic rate. b$.$ on average, the foreign effective financing rate is less than the domestic interest rate. c$.$ the foreign effective financing rate exceeds the U$.$S$.$ interest rate when its forward rate exhibits a discount and is less than the U$.$S$.$ interest rate when its forward rate exhibits a premium. d$.$ the foreign effective financing rate is less than the U$.$S$.$ interest rate when its forward rate exhibits a discount and exceeds the U$.$S$.$ interest rate when its forward rate exhibits a discount.