EXERCISE 12 - 12 Forward Contract Hedge of all Importing Transaction On November 15, 2014, Solanski Inc . imported 500,000 barrels of oil from an oil company in! VENEZuela . Solanski agreed to pay 50, 000, 000 bolivars on January 15, 2015. To Ensure that the dollar outlay for the purchase will not fluctuate , the company Entered into a forward contract to buy 50,000, 000 bolivars on January 15, at the forward rate of $. OZES . Direct Exchange rates On Various dates WERE " Forward Rate Spot Rate* 1 / 15 Delivery November 15 5. 0239 December 31 .0274 0254 January 15. 0291 Solanski Inc . is a calendar - year Company* Required . Compute the following" 1 . The dollars to be paid on January 15, 2015, to acquire the 50.000,00d bolivars from the EXCHANGE dealer