The spot rate of U$.$S$.$ dollars for Canadian dollars was $$\frac{1\mathrm{.}24}{C}$$$1.$ The inflation rate in Canada is $10\%$ while the inflation rate in US is $5\%.$ Based on the theory of Relative PPP$,$ the expected spot $($E$($S$))$ exchange rate of U$.$S$.$ dollars for Canadian dollars should be approximately: $(2$ marks$)$