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Suppose the 1-year risk-free rate of return in the United States is 6.0% and the 1-year risk-free rate of return in Britain is 8.2%. The

Suppose the 1-year risk-free rate of return in the United States is 6.0% and the 1-year risk-free rate of return in Britain is 8.2%. The current exchange rate is $1 = 0.54 pound. A 1-year future exchange rate of __________ would make a U.S. investor indifferent between investing in the U.S. security and investing in the British security.

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