(Interest rate parity) suppose 90-day investments in Europe have a 5 percent annualized return and a 1.25 percent quarterly (90-day) return. In the United State, 90-day investments of similar risk have a 7 percent annualized return and a 1.75 percent quarterly return. In todays 90-day forward market, 1 euro equals $1.32. If interest rate parity holds, what is the spot exchange rate ($/)?