Suppose that 2-year interest rates are 5.1% in the United States and 1.01% in Japan, and that the spot exchange rate is USD/JPY = 106.00. Suppose that 1 year later, interest rates are 2.78% in both countries, while the value of the yen has appreciated to USD/JPY = 103.00. Benjamin Pinkerton from New York invested in a U.S. 2-year zero-coupon bond at the start of the period and sold it after 1 year. What was his return?