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Suppose the interest rate in the US is 3.93% and in the UK is 7.54%. The current spot rate of British pounds is $1.771; the

Suppose the interest rate in the US is 3.93% and in the UK is 7.54%. The current spot rate of British pounds is $1.771; the 16-day forward rate of the pound is $1.771. What is the equilibrium UK interest rate in percentage (keep 2 decimal)? SHOW WORK

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