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Assume that Calumet Co . will receive 5 million pesos in 1 5 months. It does not have a relationship with a bank at this

Assume that Calumet Co. will receive 5 million pesos in 15 months. It does not have a relationship with a bank at this time and, therefore, cannot obtain a forward contract to hedge its receivables at this time. However, in three months, it will be able to obtain a one-year (12-month) forward contract to hedge its receivables. Today the three-month U.S. interest rate is 2 percent (not annualized), the 12-month U.S. interest rate is 6 percent, the three-month Mexican peso interest rate is 4 percent (not annualized), and the 12-month peso interest rate is 21 percent.
Assume that interest rate parity exists. Assume the international Fisher effect exists. Assume that the existing interest rates are expected to remain constant over time. The spot rate of the Mexican peso today is $0.09. Based on this information, estimate the amount of dollars that Calumet Co. will receive in 15 months. Do not round intermediate calculations. Round your answer to the nearest dollar.
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