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Suppose the spot and three- month forward rates for the yen are 79.70 and $79.04, respectively. What would you estimate is the difference between the

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Suppose the spot and three- month forward rates for the yen are 79.70 and $79.04, respectively. What would you estimate is the difference between the annual inflation rates of the United States and Japan? (Negative amount should be indicated by a minus sign. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Annual inflation rate differential %

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