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An Australian exporter WA Co. wants to export goods for 5.14 million Chinese yuan (CNY) and receive payment from a Chinese importer, Sing Tao, in

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An Australian exporter WA Co. wants to export goods for 5.14 million Chinese yuan (CNY) and receive payment from a Chinese importer, Sing Tao, in one year. WA Co. also wants to minimise its exchange rate risk for receiving CNY5.14 by taking the options market hedging strategy. Calculate the minimum Australian dollar (A\$) net proceeds from the options market hedging strategy based on the information in Table 1 . (Enter the whole number without sign and symbol)

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