Problem 6 The following are the spot and forward bid and ask rates for the Japanese yen/U.S. dollar ($) exchange rate from January 20, 2011. By referring to these rates, answer the following questions (the US dollar is the home currency): Period spot 1 month 2 months 3 months VS Bid Rate 85.41 85.02 84.86 84.37 VS Ask Rate 85.46 85.05 84.90 84.42 a) Calculate the mid-rate for these maturities b) Calculate the annual forward premium for these maturities