Suppose that you are a trader in Australia and you see the following quotes on your screen: Spot exchange rate 270-day forward rate 270-day AUD interest rate 270-day SGD interest rate 0.9999 Singapore dollar (SGD) per Australian dollar (AUD) 0.9000 SGD per AUD 12% per annum (p.a.) 1% p.a. Given these quotes, which way will capital flow? Explain why. Suppose that you have AUD 100,000. Can you make a profit (in AUD) with these quotes? If the spot exchange rate and the interest rates were to stay the same, at what 270-day forward rate would there be no capital flows? Show your working clearly and completely