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Suppose the interest rate on Russian government bonds is 8.9%, and the current exchange rate is 25.8 rubles per dollar. Assume that the forward exchange

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Suppose the interest rate on Russian government bonds is 8.9%, and the current exchange rate is 25.8 rubles per dollar. Assume that the forward exchange rate is 26.5 rubles per dollar, and the current U.S. risk-free interest rate is 4.8%, the implied credit spread for the Russian government bonds is closest to: Select one: O a. 1.26% O b. 3.97% O c. 4.10% O d. 6.87%

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