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A firm has a receivable of C$5,000,000.00. They hedge this exposure with a forward participation contract with a guaranteed rate of $1.8500 / CS and

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A firm has a receivable of C$5,000,000.00. They hedge this exposure with a forward participation contract with a guaranteed rate of $1.8500 / CS and a participation rate of 55%. If at the time of payment the spot price ends up equal to $1.6835 / C$, how much did the firm end up with? $8.792.125 $9.707.875 $8,417,500 None of the alternatives $9.250,000

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