Assume that Kramer Co. will receive SF800,000 in 90 days. Today's spot rate of the Swiss franc is $.62, and the 90-day forward rate is $.635. Kramer has developed the following probability distribution for the spot rate in 90 days:

1. The probability that the forward hedge will result inmoredollars received than not hedging is:

   Possible Spot Rate
   in 90 Days	Probability
   $.61	10%
   $.63	20%
   $.64	40%
   $.65	30%