Well Fargo quotes the following rates for the U.S. dollar. Bid ( /$) Ask (/$) Spot rate 0.7611 0.7613 1-month forward 0.8938 0.8942 3-month forward 0.9028 0.9032 6-month forward 0.9164 0.9168 12-month forward 0.9443 0.9447 Based on the ask quote, is the dollar selling at a 3-month forward premium or a forward discount? Calculate annualized forward premium or discount for 3-month forward quote. O 74.557% forward premium 74.471% forward premium 18.618% forward premium 18.639% forward premium