12. (S pts) Your firm is a U.K.-based importer of bicycles. You have placed an order with an Italian firm for 1,000,000 worth of bicycles. Payment (in euro) is due in 12 months. Use a money market hedge to redenominate this one-year receivable into a pound-denominated receivable with a one-ycar maturity. Contract Size Country U.S. S equiv. Currency per U.S. S 10,000 Britain (oound) $1.9600 interest APR 0.5000 0.6410 0.6250 190 2% 396 10,000 uro 12 months forward SFr.1.0870 SFr.1.0000 SFr.10,000 Swiss franc 12 months forward $1.0000 SEr 4%