An importer in Singaporean imports from the US$.$ The business is small, so the firm

cannot carry all of the foreign exchange risks, and only wants to do business with US

exporters with Risk Sharing. In their contract with risk sharing agreement, both parties

agree to use $$$\frac{74}{\text{\$}}$ as the "base" spot rate, and there will be four shipments each year

with a value of $$150,000($or $$$11,100,000$ when the contract is signed$)$ per shipment. On

the one hand, as long as the actual exchange rate is within $+-4\%$ of that base rate, payment

will be made in Dollar, and Singapore importer carries all foreign exchange risk. On the

other hand, if the spot rate at the time of shipment falls outside of this $4\%$ range, both

parties will share equally $(\frac{50}{50})$ the difference between the actual spot rate and the base

rate. Assume both parties have a long$-$term relationship, and the Singaporean importer

pays the US business the same day as the shipment. How much the Singaporean importer

needs to pay each time if the future spot exchange rates are $S$$$\frac{65}{S},S$$$\frac{70}{S},S$$$\frac{72\mathrm{.}5}{S}$ and

S$$82/$$$,$ respectively over these $4$ shipments? $(28$ points$)$