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Using the following exchange rates between US$ and Australian $, calculate annual forward premium/discount Period Exchange Rate ($/) Spot 1.2200 1 month 1.2214 months 1.2226

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Using the following exchange rates between US$ and Australian $, calculate annual forward premium/discount Period Exchange Rate ($/) Spot 1.2200 1 month 1.2214 months 1.2226 9 months 1.2251 The 9-month forward premium/discount is % (Please keep the sign and at least two decimal numbers.)

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