ools BioTron Medical is a US based, medical devise company. A current customer, Numata of Japan, makes monthly purchases of JPY 125,000,000. BioTron offers payment terms of 30 days. Numata only purchases on a monthly basis and does not make purchases ahead. Numata's CFO has approached BioTron with a proposal to pay cash in yen immediately if offered a 2.5% discount. The CFO of BioTron is considering Numata's proposal or simply covering the yen payments with forward contracts. The CFO of BioTron takes note of the following market data: Spot Rate: JPY 111.40/$ 30 Day Forward Rate: JPY 111.00/$ 90 Day Forward Rate: JPY 110.40/$ Numata's WACC -7% BloTron's WACC -6% Based upon the above information, what is the forward rate premium or discount? (Round to a percentage with 2 decimal places.) O-0.36% -2.5% O-0.50% -1.36%