Problem 5.9 Bid/Ask on Swiss Franc/Euro Forwards Use the following spot and forward bid-ask rates for the Swiss franc/euro (CHF/) from October 28, 2019, to answer the following questions: Period spot 1 month 2 months 3 months 6 months 12 months 24 months CHF/ Bid Rate 1.1027 1.1030 1.1033 1.1038 1.1049 1.1068 1.1109 CHF/ Ask Rate 1.1033 1.1035 1.1071 1.1042 1.1050 1.1068 1.1093 a. What is the mid-rate for each maturity? b. What is the annual forward premium for all maturities? c. Which maturities have the smallest and largest forward premiums? Since the exchange rate quotes are direct quotes on the dollar (CHF/), the proper forward premium calculation is: Forward premium = (Forward - Spot)/(Spot) x (360 / days)