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A Hong Kong based investment company requires USD 4 million in 40 days to close a deal in the US state of California. It

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A Hong Kong based investment company requires USD 4 million in 40 days to close a deal in the US state of California. It approaches its FX dealer for a forward quote. Assume one year is 360 days. If the dealer quotes the spot rate as USD/HKD 7.7845 and the interest rate for HKD deposits is 2.5% and that for USD deposits is 3.87%: 4) To receive the USD 4 million in 40 days, how much HKD does the company need to pay its dealer? HKD millions (Give answer in HKD millions to 4 decimal places, e.g. HKD 1 million = 1.0000)

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