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SweetSeed Inc. has accounts receivable of 20,000,000 Japanese yen (JPY), which are due within one year. The spot rate for the yen 0.0124 is US

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SweetSeed Inc. has accounts receivable of 20,000,000 Japanese yen (JPY), which are due within one year. The spot rate for the yen 0.0124 is US dollars, and the forward rate for the yen is 0.014 US dollars. The annual savings and borrowing rates in Japan are 8% and 12%, respectively. The annual savings and borrowing rates in the US are 7% and 10%, respectively. If the company wants to lock in the exchange rates using the money market hedge, the U.S. dollar-denominated deposit in a year would be a. 259,589 b. 243,491 c. 236,929 d. 252,593

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