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The following information are available in respect of Alcoa Ltd . U . S . borrowing rate for 1 year = 9 . 5 %

The following information are available in respect of Alcoa Ltd.
U.S. borrowing rate for 1 year =9.5%
U.S. deposit rate for 1 year =8.7%
French borrowing rate for 1 year =11.3%
French deposit rate for 1 year =10.2%
French franc spot quote = $0.176378
French franc 1 year forward quote = $0.172947
What value can Alcoa lock in for a receivable of FF 3 million due in one year if it executes a money market hedge today?

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