It is 12 July and the following information is available: Sterling currency futures prices (contract size 62,500) September$1.5552/ December$1.5556/ March$1.5564/ (i) A UK company is due to receive $2m in December. Show how the company can hedge its transaction risk using sterling currency futures, assuming that the spot rate on expiry of the December sterling futures contract is $1.6502/. (ii) The UK company also expects to have to pay $5m to a US supplier in March next year. Show how the company can hedge its transaction risk using sterling currency futures, assuming that the spot rate on expiry of the March sterling futures contract is $1.5504/