(Problem 2 at EOC) While you were visiting London, you purchased a Jaguar for 33,000, payable in three months. You have enough cash (dollar) at your bank in New York City, which pays 0.35% interest per month, compounding monthly, to pay for the car. Currently, the spot exchange rate is $1.56/ and the three-month forward exchange rate is $1.37/. In London, the money market interest rate is 1.7% for a three-month investment. There are two alternative ways of paying for your Jaguar. Option 2: Buy a certain pound amount spot today and invest the amount in the U.K. for three months so that the maturity value becomes equal to 33, what is the the dollar cost of this option today? (e.g., if your answer is 12,345.68, round to two decimals, and enter it as 12345.67) Please show all of your work, I don't mind if you use excel or handwrite as long as you show how you got the numbers. If you're doing this handwritten, please write clearly. I will upvote correct and legible answers, thank you