Today's spot rate is USD/NZD 1.5666, and next year's forecast spot rate is USD/NZD 1.5746. Which of the following can be consistent with this forecast? a. (1) NZD is at a forward premium against USD. The one-year forward rate could be around USD/NZD 1.5746. b. (3): New Zealand's expected inflation rate is lower, relative to the U.S's. c. (1), (2) and (3). d. None of the other given choices. e. (2): New Zealand's interest rate is lower, relative to the U.S.'s. Clear my choice