Suppose that today is Tuesday, February 2nd, 2021. Some months ago, a company entered into a forward contract with a bank to sell 1 million Pounds Sterling at a rate of 1.62 CAD per on February 2, 2021. Suppose that on February 2 (today) the exchange rate is 1.73 CAD per . The company asks the bank if it can roll the contract forward six months until August 2, 2021 instead of settling on February 2nd. The bank agrees to a new delivery price K. In other words, instead of selling 1 million Pounds Sterling at a rate of 1.62 CAD per on February 2nd, the company will sell the bank 1 million Pounds Sterling at a rate of K CAD per on August 2, 2021. Suppose that on February 2, the six-month interest rates in Canada and the United Kingdom are 3% and 1% per year respectively with continuous compounding. Find K