The Spot Rate for the British Pound Currently Is $\le$ 57 Per $1 the One-Year Forward Rate Is

The spot rate for the British pound currently is $\le$ .57 per $1. The one-year forward rate is $\le$ .58 per $1. A risk-free asset in Canada is currently earning 2.5 %. If interest rate parity holds, what rate can you earn on a one-year risk-free British security?

A) 4.18 %
B) 4.30 %
C) 4.86 %
D) 5.10 %
E) 5.42 %