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please answer in full steps and detail The 9-month forward exchange rate for US$ to Canadian $ is 0.82688 (US$/CAN$). The US Dollar-denominated risk-free rate

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The 9-month forward exchange rate for US\$ to Canadian $ is 0.82688 (US\$/CAN\$). The US Dollar-denominated risk-free rate is 4.00% and the Canadian Dollar-denominated risk-free rate is 1.25%. a. Jacques Renault has 10,000 Canadian Dollars and needs to exchange them into US Dollars as of today. How much will he receive? ( 8 points) b. If Jacques doesn't need to exchange the Canadian Dollars until two years from now, and wants to lock in the exchange rate today by using a two-year forward contract, what exchange rate could he lock in? ( 9 points)

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