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pols A United States farmer has just sold 10,000 bushels of wheat to the Indian government at a price of INR 850/bushel. Proceeds from the

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pols A United States farmer has just sold 10,000 bushels of wheat to the Indian government at a price of INR 850/bushel. Proceeds from the sale are due in 180 days. The US farmer is deciding if they should hedge the sale of this wheat. The current market conditions are as follows: Current Spot rate: INR 76.20 Estimated Future Spot rate: INR 76.95 Forward Rate: INR 77.50 Based upon this information and using all three future foreign currency estimates, what is your estimated payment range in USD if the farmer does not hedge their currency exposure? USD $109,677 to $111,549 USD $109,677 to $110,461 USD $110,461 to $112,465 O USD $129,000 to $131,000

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