STEP: $3$ of $3$

Suppose that you are a finance manager at a U$.$S$.$ based MNC$.$ On January $1$ st$,$ you anticipate you will need to purchase C $$490,000\mathrm{.}00($Canadian

dollars$)$ worth of supplies from a Canadian supplier in March using Canadian dollars $($C$$).$ The current spot rate for the Canadian dollar is $$0\mathrm{.}77.$

In the previous parts of this question your MNC paid $$377,300\mathrm{.}00$ for a futures position $($ $$490,000\mathrm{.}00$ at $$0\mathrm{.}77),$ but then closed that position by

selling a futures contract that allowed them to receive $$362,600\mathrm{.}00($C$$490,000\mathrm{.}00$ at $$0\mathrm{.}74).$

Your MNC

from these positions totalling

incurs a loss

TOTAL SCO

accrues gains

$($to complete this step and unlock the next step$)$