After calculating its dollar cost of forward hedging. Mullen is now considering a money market hedge on the 200,000 pound payable. in particular, Mullen can earn 5.00% over the next year by depositing pounds in a British bank today. Suppose that the 5pot rate for the pound today is $1.18. In or der to have 200,000 euros in one year, Mullen would only need to deposit approximately of pounds, assuming a spot rate for the pound of $1.18, Mullen would only need approximately Mullen does not wish to use its own cash balances for this hedge, so it will need to borrow dollars at a rate of 8.0045. If Multen borrows these dollars, it will need to repay approximately