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The risk-free interest rate in the United States is 4.0%, while the risk-free interest rate in the United Kingdom is 12.0%. If the 1-year futures

The risk-free interest rate in the United States is 4.0%, while the risk-free interest rate in the United Kingdom is 12.0%. If the 1-year futures price on the British pound is $3.70, the spot market value of the British pound today should be __________.

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