The Spot Rate for the British Pound Currently Is $\le$ 55 Per $1 the One-Year Forward Rate Is

The spot rate for the British pound currently is $\le$ .55 per $1. The one-year forward rate is $\le$ .58 per $1. A risk-free asset in Canada is currently earning 3 %. If interest rate parity holds, approximately what rate can you earn on a one-year risk-free British security?

A) 4.01 %
B) 4.31 %
C) 6.22 %
D) 6.87 %
E) 8.62 %