The current exchange rate is US $0.7000 per Australian dollar. The six-month risk-free interest rates are 1% in the U.S. and 4% in Australia (both expressed with continuous compounding). What is the six-month forward rate? US\$0.6724/AUS US\$0.7071/AUS US\$0.7207/AUs US\$0.6896/AU\$ A futures price is currently $40. It is expected to move up to $44 or down to $34 in the next 6 months. The risk-free interest rate is 4% per annum with continuous compounding. Using a one-step binomial tree, what is the value of a 6-month put option with a strike price of $38 ? $1.06 $2.63 $1.57 $2.12