You observe the following current rates and prices today:

• the spot exchange rate today: AU$1.50 per U.K pound;
• the expected one-year ahead inflation rate in Australia: i($) = 4%;
• the expected one-year ahead inflation rate in the U.K.: i(euro) = 5%;
• the price level in Australia today: AU$3.60; and
• the price level in the U.K. today: 2.00 pounds

Based on the speed of convergence for the deviation from the purchasing power parity, which says the deviation will shrink by 15% per year, calculate the expected 1-year ahead spot exchange rate of Australian dollars against the U.K. pound, E^e($/pound) (rounding to 3 decimal places). Show all working to get full marks.