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Jo Lo Ltd, a South African exporter, sells car parts to the value of 150 000 (Euro dollars) on 1 July 2013 to a company in Italy. Payment is made to Jo Lo on 1 August 2013. The following information is available: Price in Price in R Exchange rate (ZAR) 150 000 1 July 2013 1 R14.25 R2 137 500 1 August 2013 150 000 Unknown Unknown The forward Rand to rate is trading at a Rand discount of 18% per annum. Jo Lo wants to take out forward cover. What is the value of the transaction in ZAR as at 1 August 2013