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Suppose that the Norwegian direct exchange rate between the U.S. dollar and the Norwegian krone is 9.8704. The expected rate of inflation over the next

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Suppose that the Norwegian direct exchange rate between the U.S. dollar and the Norwegian krone is 9.8704. The expected rate of inflation over the next year in Norway is 8.8%. Meanwhile, the expected rate of inflation over the next year in the U.S. is 7%. What does this information suggest that the Norwegian direct spot exchange rate with the dollar will be one year hence? Report your answer rounded to four decimal places

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