Forward versus Money Market Hedge on Receivables. Assume the following information:

180day U.S. interest rate = 0.07

180day British interest rate = 0.09

180day forward rate of British pound = $1.50

Spot rate of British pound = $1.41

Assume that Tax Corp. from the United States will receive 412,000 pounds in 180 days. How much more (or less) would the firm receive in 180 days if it uses a forward hedge instead of a money market hedge?