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Suppose you observe a spot exchange rate of $ 1 . 4 1 . If interest rates are 3 . 9 % APR in the

Suppose you observe a spot exchange rate of $1.41. If interest rates are 3.9% APR in the U.S. and 8.6% APR in the euro zone, what is the no-arbitrage 1-year forward rate for the euro in terms of dollars (USD/EUR)? Submit your final answer rounded to two decimal places (Ex.0.00).
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