A U.S. firm has a subsidiary in Great Britain and faces the following scenario:

	Probability	Spot Rate	C*	C	Proceeds from Fwd. contract	Dollar value of hedged position
State 1	40%	$2.50/	2,000
State 2	60%	$2.30/	2,500

1.Compute the proceeds from the forward contract if you hedge this exposure. Assume the forward rate is $2.45/. Fill in the proceeds in the appropriate box in the table above. Use two decimal places in your calculations.