1. (Cross-rates: bid-ask spreads: forward hedging): Citi bank has the following quotes using S as common curren Bid $1.3227/6 AS1.0146/S 1.02 Ask S1.3230/ A$1.0152/S 1.02 Current spot rate Current spot rate 2-month forwa (a) A bank customer wants to buy AS10,000. How many s will the bank customer pay after two ra (b) What is the ask rate for the cross rate of AS/ (four decimal places)? (c) Trident (US) has imported steel slab from BlueScope Steel (Australia) with the payment of AS2,000,000 due in two months. Trident (US) would like to use forward hedge, what is the amount of US dollars needed in two months to fulfill the delivery obligation? (d) Luis Pinzon, a hedge fund manager, would like to try carry trade between S and AS in the spot market. He plans to convert S1,000,000 into AS and then invests in Australian money market in order to earn a high-interest income. How many As will be available to him for the initial money-market investment