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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 1.2212 7 months

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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 1.2212 7 months 1.2232 11 months 1.2254 % The 11-month forward premium/discount is (Please keep the sign and at least two decimal numbers.)

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