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The yield on a 1-year bill in the U.K. is 8% and the present exchange rate is 1 pound = U S $1.60 If you

The yield on a 1-year bill in the U.K. is 8% and the present exchange rate is 1 pound = U S $1.60 If you expect the exchange rate to be 1 pound-U.S. $1.50 a year from now, the return a US investor can expect to earn by investing in U.K. bills is

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