14. Tuck Turner is planning a trip in six months to Germany, where Tuck plans to purchase...

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14. Tuck Turner is planning a trip in six months to Germany, where Tuck plans to purchase a BMW for 80,000 German marks (DM). Using a recent Wall Streetjournat, calculate how much the purchase would cost in U.S. dollars at the current exchange rate. Given the recent settlement price ofa six-month DM futures contract, how much would Tuck have to pay to hedge the cost of the BMWpurchase?

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