Problem 3. Caribou River, Ltd., a Canadian manufacturer of raincoats, does not selectively hedge its transaction exposure. Instead, if the date of the transaction is known with certainty, all foreign currency-denominated cash flows must utilize the following mandatory forward contract cover formula: Caribou expects to receive multiple payments in Danish kroner over the next year. DKr 3,000,000 is due in 90 days; DKr 2,000,000 is due in 180 days; and DKr 1,000,000 is due in one year. Using the following spot and forward exchange rates, what would be the amount of forward cover required by company policy by period? Additional information is provided below. - Sport rate Dkr/C4.70 - 3-mo forward rate Dkr/C4.71 - 6-mo forward rate Dkr/C$4.72 - 12-mo forward rate Dkr/C\$ 4.74