Wood Works has purchased lumber from a British company, with payment due 3 months from today. The payment due is 120,000. The Canadian dollar and British pound rate is currently 1.9580 and the three-month C$/ forward rate is 1.8965. If Wood Works hedges their foreign currency risk with a forward contract advise the company:

a. How much they will have to pay in three months in Canadian dollars? (Round the final answer to the nearest whole dollar.)

b. How much would they have to pay today?