3. The USD is strong comparing to EUR now. A EU company afraid the appreciation pressure on their USD investment. The manager comes to the bank that you work for to hedge the $3m investment due in 6 months. The following information shows up on your screen: Spot exchange rate: $1.1230/$1.1265/ US interest rates are 2% for investing and 4.5% for borrowing. EU interest rates are 0.1% for investing and 2.5% for borrowing. Please remember: Interest rates are quoted as annualized rate. The bank that you work for demands a 0.85% profit margin for all forward contract. How much is the forward quotation that you will provide to your corporate customer