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:

Possible Spot Rate in 90 Days Probability

$.61 10%

$.63 20%

$.64 40%

$.65 30%

The probability that the forward hedge will result in more dollars received than not hedging is: