L Moving to another question will save this response. Question 3 of 10 11 Question 3 2 points Save Answer Use the following fundamental model to forecast the value of the exchange rate of Malaysian ringgit (MYR) in a year: 4+1 = a + B,INC, +BzINF, where er+1 is the expected percentage change in the exchange rate over the next year, INC is the percentage change in the income level differential and INF is the percentage change in the inflation rate differential. The model parameters are: a=0; B1=0.3; B2 = 0 The most recent income level growth rates are 2.4% in the U.S. and 3.71% in Malaysia. The most recent inflation rates are 3.45% in the U.S. and 3.45% in Malaysia. The most recent percentage change in the income level differential is 3.53% and the most recent percentage change in the inflation rate differential is 1%. Today the spot rate is $0.2449. Estimate the exchange rate in a year. Round to four decimal places. Example $1.1234