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4. Money Corp. used a forward hedge to hedge its payables of Malaysian ringgit (MYR) 1,500,000. The forward rate was $.23. On the day Money

4. Money Corp. used a forward hedge to hedge its payables of Malaysian ringgit (MYR) 1,500,000. The forward rate was $.23. On the day Money Corp. received the MYR, the spot rate was $0.21/MYR. What is the real cost of hedging the payable?

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