Assume the following information:

180-day U.S. interest rate = 5%

180-day British interest rate = 7%

180-day forward rate of British pound = $1.30

Spot rate of British pound = $1.24

Assume that Reviera Corp. from the United States will receive 1,400,000 pounds in 180 days. Showing and explaining all workings, determine whether it would be better off using a forward hedge or a money market hedge.