Japanese Yen Forward. Use the following spot and forward bid-ask rates for the Japanese yen/U.S. dollar (4/5) exchange rate from September 16, 2010, to answer the following questions: a. What is the mid-rate quote for each maturity? b. What is the annual forward premium on the yen for all maturities? (Assume that the U.S. dollar is the home currency. Also use the Mid-Rate values computed in part a.) c. Which maturities have the smallest and largest forward premiums? (Click on the icon to import the table into a spreadsheet.) Period spot 1 month 2 months 3 months 6 months 12 months WIS Bid Rate 80.88 80.45 80.29 79.79 1$ Ask Rate 80.93 80.49 80.33 79.84 78.67 78.33 78.63 78.29 1 month 30 80.45 80.49 80.470 2 months 60 80.29 80.33 80.310 3 months 90 79.79 79.84 79.815 6 months 180 78.63 78.67 78.650 12 months 360 78.29 78.33 78.310 24 months 720 77.17 77.21 77.190 b. What is the annual forward premium on the yen for all maturities? (Assume that the U.S. dollar is the home currency.) Calculate the annual forward premium for all maturities below. Use the Mid-Rate values computed in part a.. (Round to three decimal places.) Bid Rate Ask Rate Forward Days Forward Period \/$ 19 Premium 0 80.88 80.93 Spot 1 month 30 80.45 80.49 %