If you invest your money into Treasury bills in the United States your return would be 4 percent per year. Its equivalent in Canada would bring you a 2 percent return. The two countries' currencies can be exchanged at today's exchange rate of C$1.2103. Assuming that interest rate parity holds approximately what would be the three-year forward exchange rate?

Multiple Choice

C$1.1744

C$1.2241

C$1.2470

C$1.2295

C$1.1391