The Spot Rate for the British Pound Currently Is £

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

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