Assume the following information: U.S. deposit rate for 1 year = 11%; U.S. borrowing rate for 1 year = 12%; Swiss deposit rate for 1 year = 8%; Swiss borrowing rate for 1 year = 10%; Swiss forward rate for 1 year = $.40; Swiss franc spot rate = $.39. Also, assume that a U.S. exporter denominates its Swiss exports in Swiss francs and expects to receive SF600,000 in 1 year. Using the information above, what will be the approximate value of these exports in 1 year in U.S. dollars given that the firm executes a forward hedge?

$234,000

$238,584

$236,127

$240,000