32 Account payable money market hedging costs Coleman Co., an Australian company, will pay 1.58 million Malaysian ringgit (MYR) to its Malaysian supplier in one year. To avoid transaction exposure, the company wants to take the money market hedge strategy using the spot rate A$0.3530/MYR and a 6.57 per cent deposit rate of MYR. What is the cost of the money market hedge to Coleman Co. with a 3.34 per cent borrowing rate of A$?