Narto Co. (a U.S. firm) exports to Switzerland and expects to receive 400,000 Swiss francs in one year. The one-year U.S. interest rate is 5 percent when investing funds and 7 percent when borrowing funds. The one-year Swiss interest rate is 9 percent when investing funds and 11 percent when borrowing funds. The spot rate of the Swiss franc is $0.78. Narto expects that the spot rate of the Swiss franc will be $0.74 in one year. There is a put option available on Swiss francs with an exercise price of $0.77 and a premium of $0.02. Do not round intermediate calculations. Round your answers to the nearest dollar.

1. Determine the amount of dollars that Narto Co. will receive at the end of one year if it implements a money market hedge.

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2. Determine the amount of dollars that Narto Co. expects to receive at the end of one year (after accounting for the option premium) if it implements a put option hedge.

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