Chamberlain Canadian Imports, a U.S. firm located in New York City, has agreed to purchase 15,000 cases of Canadian wine for 4 million Canadian dollars at today's spot rate. The firm's financial manager, James Churchill, has noted the following current spot and forward rates Spot rate 30-day forward rate 90-day forward rate 180-day forward rate U.S. Dollars Per Canadian Dollar $.6930 $.6935 $.6944 $.6957 Canadian Dollars Per U.S. Dollar 1.4430 1.4420 1.4401 1.4374 On this same day, Churchill agrees to purchase 15,000 more cases of wine in three months at the same price of 4 million Canadian dollars What is the cost of the first 15,000 cases of wine that Chamberlain Canadian Imports will pay in U.S. dotlars, if the wine is purchased at today's spot rate? 1. 2. What is the cost of the second 15,000 cases of wine that Chamberlain Canadian Imports will pay in U.S. dollars, if payment is made in 90 days and the spot rate at that time equals today's 90-day forward rate? 4000000/0.955 - $4188481.675/ (Ctrl) If the exchange rate for the Canadian dollar is 1.20 to $1 U.S. dollar in 90 days, how much will Chamberlain Canadian Imports pay for the second 15,000 cases of wine in U.S. dollars? b. Assuming this exchange rate of 1.20 Canadian dollars to $1 U.S. dollar is the actual spot rate in 90 days (t = 90 days), should Chamberlain Canadian Imports purchase a 90-day forward contract at the rate of 1.4401 Canadian dollars to $1 U.S. dollar today (quoted 90-day forward rate at in the chart above) to purchase the second 15,000 cases of wine? Why or why not