Calculate the A$ proceeds for the money market hedging strategy using the market information in Table 1.

TABLE 1 For Chinese yuan (CNY) Spot rate A$0.4633/CNY One-year forward rate A$0.5350/CNY One-year CNY deposit and borrowing rate 8.66% One-year call options Exercise price = A$0.62 Premium = A$0.04 One-year put options Exercise price = A$0.58 Premium = A$0.05 For Australian dollar (A$) Spot rate CNY2.8009/A$ One-year forward rate CNY1.7463/A$ One-year A$ deposit and borrowing rate 4.91% One-year call options Exercise price = CNY2.36 Premium = CNYO. 16 One-year put options Exercise price = CNY2.06 Premium = CNYO.15