5. Imperial Tasty Treats is a British food firm that has just signed a contract to sell haggis to a US firm. The firm will receive $250,000 in March and is considering hedging this exposure with futures contracts. The subsequent table shows the spot and futures rates for February and March: (GBP/USD) Spot Rate Futures Rate February 1.24 1.23 March 1.35 1.35 a. Design and describe a futures-based hedging strategy for Imperial Tasty Treats. b. What would be the final cash flows of the previously described hedging strategy? [6.5 marks] [6 marks] [Total: 12.5 marks]