ABC Corp. has accounts payable of NZD 4,000,000 (New Zealand dollars) in 1 year. The current spot exchange rate is USD0.54/NZD. The 1-year forward rate is USDO.57/NZD. The money market rates are: U.S.A. New Zealand Lending rate (deposit rate) 9% 6% Borrowing rate 11% 8% ABC Corp. plans to hedge its exposure with a money market hedge. Describe all steps and calculate the amount of US dollars (USD) that ABC Corp. will pay in 1 year. [Draw a time line] 1-0 li li ABC Corp. has accounts payable of NZD 4,000,000 (New Zealand dollars) in 1 year. The current spot exchange rate is USD0.54/NZD. The 1-year forward rate is USDO.57/NZD. The money market rates are: U.S.A. New Zealand Lending rate (deposit rate) 9% 6% Borrowing rate 11% 8% ABC Corp. plans to hedge its exposure with a money market hedge. Describe all steps and calculate the amount of US dollars (USD) that ABC Corp. will pay in 1 year. [Draw a time line] 1-0 li li