Problem $31-10$ Exchange Rates and Arbitrage

$1\mathrm{.}25$ Suppose the spot and six$-$month forward rates on the Norwegian krone are Kr $5\mathrm{.}81$ and

Kr $5\mathrm{.}96,$ respectively. The annual risk$-$free rate in the United States is $3\mathrm{.}61$ percent, and

the annual risk$-$free rate in Norway is $5\mathrm{.}31$ percent. What would the six$-$month forward

rate need to be on the Norweigan krone to prevent arbitrage? $($Do not round

intermediate calculations and round your answer to $4$ decimal places, e$.$g$.32\mathrm{.}1616.)$

Answer is complete but not entirely correct.