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s. On July 1, 2012, a Japanese company enters into a forward contract to buy $1 million with yen on January 1, 2013. On September

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s. On July 1, 2012, a Japanese company enters into a forward contract to buy $1 million with yen on January 1, 2013. On September 1, 2012, it enters into a forward contract to sell S1 million on January 1, 2013. Describe the profit or loss the company will make in dollars as a function of the forward exchange rates on July 1, 2012 and September 1, 2012

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