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 1,680 million Indonesian rupiah (Rp), which at the current spot exchange rate of Rp9,480/$, translates into $177,215.19. 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, cash settlement of $170,000. The current 90-day forward rate is Rp9,900/$. 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 Rp 10,250/$ 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 Rp9,480/$? $ (Round to the nearest cent.) 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 Rp10,250/$? (Round to the nearest cent.) How much in U.S. dollars will Elan receive in 90 days without a hedge if the expected spot rate in 90 days is assumed to be Rp9,900/$? $(Round to the nearest cent.) How much in U.S. dollars will Elan receive in 90 days with a forward market hedge? (Round to the nearest cent.) "Elan will have to decide whether making the sale into this specific market is worth breaking a company policy on minimum gross margin or taking significant currency risk by not using a forward cover." The statement above is (Select from the drop-down menu.)