(c) Barlucchi International Ltd is a multinational company based in the United Kingdom and manufactures beers, which are sold in two other countries namely, United States and France, through its subsidiaries based in these countries. Transactions between companies within the group have historically been in all the currencies of the countries where the subsidiaries are located and have not been centrally coordinated. At the end of March 2024, unsettled intercompany debts were as per table below: Owed by/Payments (read down) UK Owed to/Receipts (read accross) UK US $ 21 m France 5 m $ 15 m $7 m 20 m $4m US France The spot exchange rates at the end of March were as per table below: S/ 1 / 1 2 1.4360 1.4368 1.6387 - 1.6392| Barlucchi International Ltd is planning to implement a central treasury management to settle inter- company balances whereby the pound sterling will be used as the settlement currency. Calculate the inter-company currency transfers that will be required for settlement using the average spot rates. [8 Marks]