Suppose your company sold athletic shoes in the United Kingdom and is expecting to receive a cash flow of 10,000,000 six months from now from the sale. This means that your company has initially a long position in British pounds. Given the following outright quotes of the six-month forward rate for the British pound, what dollar cash flow will your company receive if it hedged its long position through a forward contract? Assume that the actual spot rate turns out to be $1.1700/ six months from now.

	Bid	Ask
6-month forward rate F6-month$/	$1.2000/	$1.2200/