Q$3$ An Australian importing company needs to pay $3\mathrm{.}5$m USD in two years$$ time for ordered purchases. The current spot rate is AUD $/$ USD $0\mathrm{.}6413/0\mathrm{.}6479.$ Australian interest rates are currently at $4\mathrm{.}35\%$ p$.$a$.$ and U$.$S$.$ interest rates are at $5\mathrm{.}5\%$ p$.$a$.$ The net interest rate spread in both countries is $1\mathrm{.}75\%($read this as the borrowing rates are $1\mathrm{.}75\%$ higher than the given investment rates above$).$ Design a money market hedge which will remove the FX risk faced by the company, yet not altering the timing of the payment. Clearly show the AUD cash flow in the future.