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The 9 0 - day US T - bill rate is 4 . 9 % APR and the 9 0 - day British Treasury rate

The 90-day US T-bill rate is 4.9% APR and the 90-day British Treasury rate is 5.05% per annum.
The spot exchange rates are $1.3505/ bid and $1.351/ ask.
Calculate, to 4 decimal places (e.g. $1.####/), the "no-arbitrage" 90-day forward ask exchange rate that makes a British citizen indifferent between buying a UK treasury and buying a US T-bill.

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