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Pleas answer it ASAP Your firm is a U.K.-based importer of bicycles. You have placed an order with an Italian firm for euro 1,000,000 worth

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Pleas answer it ASAP
Your firm is a U.K.-based importer of bicycles. You have placed an order with an Italian firm for euro 1,000,000 worth of bicycles. Payment (in euro) is due in 12 months. Use a money market hedge to redenominate this one-year payable into a pound-denominated payable with a one-year maturity. Show your steps while including the numbers

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