Spot vs$.$ Forward Exchange Rate: In Chapter $6$ of your recommended textbook and relevant PowerPoint notes we discussed various aspects of "International Finance & Trade". As a sales representative of John Deere, a U$.$S$.$ based multinational corporation, you sold some agricultural equipment to a British firm today and will receive $1,000,000$ from the British firm one month from today. Today's spot exchange rate is $$\frac{1\mathrm{.}12}{}.$ You are almost certain that the spot exchange rate between the US dollar and British pound will be $$\frac{1\mathrm{.}10}{}$ one month from today. The current forward exchange rate is $$\frac{1\mathrm{.}05}{}.$ Should you wait one month and sell the $1,000,000$ in the spot market $($that is$,$ convert the pounds to dollars$)$ or enter a forward contract to sell the pounds $($that is$,$ convert to dollars$)?$ In this regard, explain what steps you would take today and one month from today. Why did you choose this course of action