Fancy Bhd has agreed to buy 25,000 watches from Quicker Ltd in the United States for USD 100 each at today's spot rate. Fancy Bhd agrees to buy 25,000 more bags for $300 each over the next two months on the same day. Mandy, the firm's financial manager, has noted the following current spot and forward rates: spot 30-day forward 60-day forward 90-day forward RM/USD 4.14 4.12 4.09 4.05 USD/RM 0.2415 0.2427 0.2445 0.2469 Required: (a) Calculate the price of the watches in RM if purchased at today's spot rate using the direct quote method. (4 marks) (b) Calculate the cost of the second 25,000 bags in RM using an indirect quote method if payment is made in 60 days and the spot rate at the time is equal to today's 60- day forward rate. (4 marks) (c) How much will Mandy has to pay (in RM) for the bags if the USD exchange rate is 0.2200 to RM1 in 60 days