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Spot rate = BP 0.6024/US$; 3-month forward rate = BP 0.5984/US$. TE Company is expecting a payment of BP 200 million in 3 months. If

Spot rate = BP 0.6024/US$; 3-month forward rate = BP 0.5984/US$. TE Company is expecting a payment of BP 200 million in 3 months. If the firm hedges this transaction in forward market what is the US$ amount it will receive in three months? (Ignore transaction costs) Select one: a. US$166.00 million b. US $60.40 million c. US$336.70 million d. US$165.56 million

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