Instructions: Show all calculations in detail. No partial credit will be given for just answers. J. Borrow NZS645,455 1) Assume the following information: (NZ$600,000/1.1) = N2 $545,455 2. convert U.S. deposit rate for 1 year = 11% U.S. borrowing rate for 1 year N2 3545,455(+ $.39 per NZA-212,73 = 12% New Zealand deposit rate for 1 year 3, invest S$212.727 to accomuiate = 8% New Zealand borrowing rate for 1 year = 10% $234,12+($212,727 x 1.11)=5236,127 New Zealand dollar forward rate for 1 year= $.40/NZ$ New Zealand dollar spot rate = $.39/NZ$ Also assume that a U.S. exporter denominates its New Zealand exports in NZ$ and expects to receive NZ$600,000 in 1 year. You are a consultant for this firm. Using the information above, what will be the approximate value of these exports in 1 year in U.S. dollars given that the firm executes a money market hedge