3 months ago, you bought €2,000,000 1-year forward at the forward rate of 1.23 $/€. If current 9-month interest rates are 7% p.a. in the U.S. and 4% p.a. in the Eurozone, and the current spot exchange rate for euros is 1.18 $/€, then how much is your forward contract worth right now? If the forward contract were terminated today, would you expect to have to pay or receive this amount? Explain in detail how you arrived at your answer.