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:

		10%.
		20%.
		30%.
		50%.
		70%.