If the spot exchange rate of the yen relative to the dollar is ¥105.75/$, and the 90-day forward rate is ¥103.25/$, is the dollar at a forward premium or discount? Express the premium or discount as a...

If the spot exchange rate of the yen relative to the dollar is ¥105.75/$, and the 90-day forward rate is ¥103.25/$, is the dollar at a forward premium or discount? Express the premium or discount as a percentage per annum for a 360-day year.