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An Australian importing company will make a payment of 3,500,000 NZD in 3 months time. The firm buys NZD forward to hedge this exposure. Current

An Australian importing company will make a payment of 3,500,000 NZD in 3 months time. The firm buys NZD forward to hedge this exposure.

Current spot: 1.040/ 1.045 AUD/NZD

3 month forward rate: 1.079/1.085 AUD/NZD

Expected 3 month spot: 1.075/1.080 AUD/NZD

How many AUD will the Australian importing company have to pay (round to nearest dollar)

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