Omni Advisors, an international pension fund manager, uses the concepts of purchasing power parity (PPP) and the International Fisher Effect (IFE) to forecast spot exchange rates. Omni gathers the financial information as follows: [Refer to Ch06 End-of-Chapter Problem \#8] (1) Using the IFE, the expected ZAR spot rate in USD one year from now is $ per ZAR. (ZAR and USD refer to the South African rand and U.S. dollar, respectively)