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Its March 1. A U.S. company expects to sell 50 million Japanese yen for dollars at the end of July. The Sept futures price for

Its March 1. A U.S. company expects to sell 50 million Japanese yen for dollars at the end of July. The Sept futures price for the yen is currently 0.78 cents per yen. The company should enter _______(long/short) ____ (show number of contracts) futures contract. If the Spot price at end of July = 0.72 cents per yen, September futures price is 0.725 cents per yen. What is your net exchange rate cents per yen?______

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