Consider a U.S.-based company that exports goods to Switzerland. The U.S. company expects to receive payment on a shipment of goods in three months. Because the payment will be in Swiss francs, the U.S. company wants to hedge against a decline in the value of the Swiss franc over the next three months. The U.S. risk-free rate is 4 percent, and the Swiss risk-free rate is 7 percent. Assume that interest rates are expected to remain fixed over the next six months. The current spot rate is $0.5988. Required: a. Whether the U.S. company should use a long or short forward contract to hedge currency risk. b. Calculate the no-arbitrage price at which the U.S. company could enter into a forward contract that expires in three months. c. It is now 30 days since the U.S. company entered into the forward contract. The spot rate is $0.44. Interest rates are the same as before. Calculate the value of the U.S. company's forward position