16. You work for a U.S.-based firm that will pay 10,000,000 Australian dollars (AUD) in 90 days from now. You forecast that the AUD spot rate in 90 days will be one of three values: 3 | Page The 90-day forward rate on the AUD is \$0.63. Compare the total dollars (i.e., USD) paid if the firm hedges this payable using a forward contract versus the expected USD to be paid if the firm does not hedge this payable