You are to receive 145,000 on December 30 from a customer in Germany. Todays spot price is $1.04/ and the January 2023 forward rate is $1.08/. You enter a January futures contract (125,000) to sell the euro at $1.08/. When you receive the 145,000 on December 30 the spot exchange rate is $1.05/ and you sell the 145,000. On that same day you close your futures contract at $1.05/. What is the effective exchange rate you received for the 145,000? Go to 4 decimal places.