Cray Research sold a supercomputer to the Max Planck institute in Germany on credit and invoiced C13.80 million payable in six months. Currently, the six-month forward exchange rate is $1.29/C and the foreign exchange adviser for Cray Research predicts that the spot rate is likely to be $1.24/C in six months. a. What is the expected gain/loss from a forward hedge? b. If you were the financial manager of Cray Research, would you recommend hedging this euro receivable? Yes