A firm has a receivable of C$ 3,000,000.00. They hedge this exposure with a forward participation contract with a guaranteed rate of $1.6000/C$ and a participation rate of 50%. If at the time of payment the spot price ends up equal to $1.6640/C$. how much did the firm end up with? $4,896,000 54.800,000 $4.992.000 $4,704,000 None of the above