a A firm has a receivable of 100,000,000.00. They hedge this exposure with a forward participation contract with a guaranteed rate of $0.0130 / \ and a participation rate of 20%. If at the time of payment the spot price ends up equal to $0.0137 / , how much did the firm end up with? $1,370,000 $1,314,000 None of the alternatives $1,286,000 $1,300,000