Consider the following: Risk-free rate in the United States ......0.04/year Risk-free rate in Australia .......0.03/year Spot exchange

Question:

Consider the following:
Risk-free rate in the United States ......0.04/year
Risk-free rate in Australia .......0.03/year
Spot ...................................1.67 A$/$
What should be the proper futures price for a 1-year contract?

Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...