36 An analyst gathers the following data about the current USD/EUR spot exchange rate and the 180-day MRR (annualized) for the USD and the EUR:

• Spot (USD/EUR): 0.9400
• 180-day MRR (EUR): 1.7%
• 180-day MRR (USD): 2.5%

Note: USD/EUR is the amount of USD per 1 EUR.

Assuming covered interest rate parity holds, the EUR is trading at a forward premium (discount) closest to: