8. Car Corp. (a U.S.-based company) sold parts to a Korean customer on December 1, 2013, with payment of 10 million Korean won to be received on January 31, 2014. The following exchange rates applied: Date Spot rate Forward rate up to January 31 December 1, 2013 $0.00092 $0.00098 December 31, 2013 0.00090 0.00093 January 31, 2014 0.00095 0.00095 Assuming a forward contract was entered into, at what amount should the forward contract be recorded at December 31, 2013? Assume an annual interest rate of 12% and a fair value hedge. The present value for one month at 12% is.9901. A. $200. B. $295. C. $495. D. $501 8. Car Corp. (a U.S.-based company) sold parts to a Korean customer on December 1, 2013, with payment of 10 million Korean won to be received on January 31, 2014. The following exchange rates applied: Date Spot rate Forward rate up to January 31 December 1, 2013 $0.00092 $0.00098 December 31, 2013 0.00090 0.00093 January 31, 2014 0.00095 0.00095 Assuming a forward contract was entered into, at what amount should the forward contract be recorded at December 31, 2013? Assume an annual interest rate of 12% and a fair value hedge. The present value for one month at 12% is.9901. A. $200. B. $295. C. $495. D. $501