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If the spot rate (in U.S. dollars) for Japanese Yen is 0.00703 and the 180 day forward rate is 0.00717, then the Yen is trading

  1. If the spot rate (in U.S. dollars) for Japanese Yen is 0.00703 and the 180 day forward rate is 0.00717, then the Yen is trading at an annualized

    a.

    discount of 3.89%
    b.

    premium of 4.04%
    c.

    premium of 3.98%
    d.

    premium of 3.91%

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