Suppose that the current exchange rate between the yen and the dollar is 103 = $1 and that the interest rate is 4% on a one-year bond in Japan and 35 on a comparable bond in the United States. According to the interest-rate parity condition, what do investors expect the exchange rate between the yen and the dollar to be in one year? The exchange rate will be = $1. (Round your response to two decimal places.)