Suppose the spot exchange rate for the Canadian dollar is Can$1.07 and the six-month forward rate is Can$1.09.
a.	Which is worth more, a U.S. dollar or a Canadian dollar?
b.	Assuming absolute PPP holds, what is the cost in the United States of an Elkhead beer if the price in Canada is Can$2.99? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
c.	Is the U.S. dollar selling at a premium or a discount relative to the Canadian dollar?
d.	Which currency is expected to appreciate in value?
e.	Which country do you think has higher interest ratesthe United States or Canada?