Your company can get yen loans for 2.0%. Dollar rates on the same loans are 4.5%. The spot yen per dollar exchange rate is 104. The forward rates for years 1 thru 4 are, 101.51, 99.08, 96.71, and 94.40, respectively. What is the dollar value of a 4-year 1 million yen loan? (a) $9,615.33 (b) $10,422.46 (C) $11,618.04 (d) $13,527.89 Answer: A