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Suppose the spot and six-month forward rates on the Norwegian krone are Kr5.65 and Kr5.80, respectively. The annual risk-free rate in Canada is 2 percent,

Suppose the spot and six-month forward rates on the Norwegian krone are Kr5.65 and Kr5.80, respectively. The annual risk-free rate in Canada is 2 percent, and the annual risk-free rate in Norway is 4 percent.

The six-month forward rate on the Norwegian krone would have to be Kr / $ __________ to prevent arbitrage. (Do not round intermediate calculations. Round the final answer to 4 decimal places. Omit Kr / $ sign in your response.)

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