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The exchange rate between Freedonia and Barama is 22.5 Freeds to 1 Bar. If the one-year interest rates in the two countries are 7% and

The exchange rate between Freedonia and Barama is 22.5 Freeds to 1 Bar. If the one-year interest rates in the two countries are 7% and 11% respectively, what is the six-month forward rate between the two countries? The corporate tax rate in Freedonia is 35% and is 25% in Barama.

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