U.S. interest rate for 1 year (borrow or deposit) 11% Swiss deposit rate for 1 year (borrow or deposit) 9% Swiss forward rate for 1 year $.40 or SF2.50 : $1 Swiss franc spot rate $.39 or SF2.56 : $1 Also assume that a U.S. exporter expects to receive SF600,000 in 1 year. Using the information above, what will be the approximate value of these exports in 1 year in U.S.

$1,536,000

$240,000

$238,294

$1,500,000