Assuming Baker agrees to the new Novo sale, determine the present value (or future value) of the expected future cash inflow assuming: (1) there is no hedge, (2) the company hedges using a forward contract, and (3) the company hedges using the money market. With the present value (or future value) calculations, you will compare the different alternatives. With no hedge or a with forward contract hedge, the cash flow will occur at the time of payment by Novo. With the money-market hedge, Baker receives a cash flow immediately.