As a sales representative of John Deere, a U$.$S$.$ based multinational corporation,

you sold some agricultural equipment to a British firm today and will receive $1,000,000$ from the British firm one month from today. Today$$s spot exchange rate is $$1\mathrm{.}12/.$ You are almost certain that the spot exchange rate between the US dollar and British pound will be $$1\mathrm{.}10/$ one month from today. The current forward exchange rate is $$1\mathrm{.}05/.$Should you wait one month and sell the $1,000,000$ in the spot market $($that is$,$ convert the pounds to dollars$)$ or enter a forward contract to sell the pounds $($that is$,$ convert to dollars$)?$ In this regard, explain what steps you would take today and one month from today. Why did you choose this course of action?