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Required: If the current exchange rate is $1.55%, the one-year forward exchange rate is $1.70/1, and the interest rate on British government bills is 8%

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Required: If the current exchange rate is $1.55%, the one-year forward exchange rate is $1.70/1, and the interest rate on British government bills is 8% per year, what risk free dollar-denominated return can be locked in by investing in the British bills? (Do not round intermediate calculations. Round your percentoge answer to 2 decimal places.)

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