1. Assume that Stevens Point Co. has net receivables of 200,000 Singapore dollars in 60 days. The spot rate of the S$ is $0.80, and the Singapore periodic interest rate is 1.5% over 60 days (annual rate is 9% per year, so periodic rate is 1.5% per 60 days). Assume US periodic interest rates of 0.5% over 60 days or (annual rate is 6%, so periodic rate is 0.5% per 60 days). If the U.S. firm could implement a money market hedge, what is the value of the receivables in US dollars in 60 days using a money market hedge? Assume borrowing and lending rates are the same for simplicity. Be precise.