A financial analyst is examining the currency exchange rate dynamics between the United States dollar (USD) and the Euro (EUR). To aid this analysis, the following market data is available:

• The current exchange rate stands at 1.13 USD for 1 EUR.
• The annualized risk-free interest rate for USD over 1 year is 2.7%.
• The annualized risk-free interest rate for EUR over 1 year is 1.7%.

Using the interest rate parity (IRP) theory, compute the forward exchange rate for 1 EUR in terms of USD, specifically for a 2-year period.