Elan Pharmaceuticals. Elan Pharmaceuticals, a U.S.-based multinational pharmaceutical company, is evaluating an export sale of its cholesterol-reduction drug with a prospective Indonesian distributor. The purchase would be for 1,610 million Indonesian rupiah (Rp), which at the current spot exchange rate of Rp9,500/5, translates into $169,473.68. Although not a big sale by company standards, company policy dictates that sales must be settled for at least a minimum gross margin, in this case, a cash settlement of $162,000. The current 90-day forward rate is Rp9,950/5. Although this rate appeared unattractive, Elan had to contact several major banks before even finding a forward quote on the rupiah. The consensus of currency forecasters at the moment, however, is that the rupiah will continue to strengthen, possibly rising to Rp10,16075 over the coming 90 to 120 days. Analyze the prospective sale and make a hedging recommendation How much in U.S. dollars will Elan receive in 90 days without a hedge if the expected spot rate in 90 days is assumed to be Rp9,500/5? (Round to the nearest cent.) How much in US dollars will Elan receive in 90 days without a hedge if the expected spot rate in 90 days is assumed to be Rp10,16015? $ (Round to the nearest cent.) How much in US dollars will Elan receive in 90 days without a hedge the expected spot rate in 90 days is assumed to be Rp9.950/5? (Round to the nearest cent.) How much in US dollars will Elan receive in 90 days with a forward market hedge? om $ (Round to the nearest cent.) /20 9pm "Elan will have to decide whether making the sale into this specific market is worth breaking a company policy on minimum gross margir or taking significant currency risk by not using a forward cover 10/20 The statement above is (Select from the drop down menu)