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Cray Research sold a supercomputer to the Max Planck Institute in Germany on credit and invoiced 11.60 million to be paid in six months. Currently,

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Cray Research sold a supercomputer to the Max Planck Institute in Germany on credit and invoiced 11.60 million to be paid in six months. Currently, the six-month forward exchange rate is $1.18/ (i.e., USD/EUR =1.18 ) and the foreign exchange adviser for Cray Research predicts that the spot rate will likely be $1.13/ in six months. What is the expected gain/loss from a forward hedge? 58,000 580,000 580,000$ 58,000$

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