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Please show work Tek wishes to hedge a 4,000,000 account receivable arising from a sale to Olivetti (Italy). Payment is due in 3 months. Tek's

Please show work
Tek wishes to hedge a 4,000,000 account receivable arising from a sale to Olivetti (Italy). Payment is due in 3 months. Tek's Italian unit does not have ready access to local currency borrowing, eliminating the money market hedge alternative. Citibank has offered Tek the following quotes

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