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The Australia Import Company owes Japanese Yen 200,000,000 to a Japanese exporting company, This payment is due in one year's time. The current spot rate

The Australia Import Company owes Japanese Yen 200,000,000 to a Japanese exporting company, This payment is due in one year's time. The current spot rate is Japanese Yen96/A$. The applicable interest rate for the company are 0.07 per annum in Japan and 0.11 per annum in Australia. If the company hedges in the money market, what are its dollar costs in one year's time? Calculate to the nearest dollar.

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