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Henry corporation will receive SGD647,000 in two months. The spot rate for a Singapore dollar is 2.0832 Canadian dollar while the one-month forward rate for

Henry corporation will receive SGD647,000 in two months. The spot rate for a Singapore dollar is 2.0832 Canadian dollar while the one-month forward rate for a Singapore dollar is 2.3138 Canadian dollar (CND). If the company hedges its transaction exposure using forward contracts, it will:

Select one:

a. receive CND1,347,830.40 in 60 days

b. receive CND1,497,028.60 today

c. receive CND1,347,830.40 today

d. receive CND1,497,028.60 in 60 days

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