Relates to question 54 of 2010 mock exam. Book 4 states that the hedged bond return can be viewed as the sum of the domestic Rf plus the bond’s local RP. Applying this to the question, my outcome would be 5.2% instead of 5.6% (1.3% + 8.5%-4.6%). Does that mean that in this question IRP does not hold - any ideas?