QUESTION 11 EWS plc is expecting to receive $750,000 from a US company in six months' time and wants to hedge its exposure using a money market hedge. The spot rate is US$1.15/. Annual borrowing and deposit rates in the US are 5.0% and 4.0% respectively. In the UK, annual rates are 4.5% and 3.5% for borrowing and deposits respectively. Calculate the sterling revenue in six months' time from the above hedge