Consider the following information to answer question 11 – 13.Assume the following: (1) the interest rate on 6-month treasury bills is 8% per annum in the United Kingdom and 4% per annum in the United States; (2) today's spot price of the pound is $1.50, while the 6-month forward price of the pound is $1.485By investing in U.K. treasury bills rather than U.S. treasury bills, and not covering exchange rate risk, U.S. investors earn an extra return of .

A. 4% per year, 1% for the 6 months
B. 4% per year, 2% for the 6 months
C. 2% per year, 0.5% for the 6 months
D. 2% per year, 1% for the 6 months