Can you help me to answer this question? Subject Treasury Management

B. Your treasury department at the banks head office quoted the following rates:

		USD/MYR	AUD/USD
	Spot	3.8050 / 70	0.7420 / 30
	1-month	65 / 70	25 / 20
	3-month	185 / 200	58 / 55
	6-month	360 / 385	111 / 109

As a remittance officer at the banks Butterworth branch, you are helping a customer who wants a special rate to pay an import bill worth AUD 0.5 million. Given the above rates and assuming you want to make a 1 sen profit from this deal, at what spot exchange rate would you quote the customer and how much of the local currency does the customer need to pay your bank? (Show your assumptions and how you arrive at your answer)