XYZ Company has an account receivable of 10,000,000 from a British company to be paid in three months. The additional information is as follows:

British pound spot rate: $2.0290 British Pound

3-month forward rate: $2.0032 3-month

interest rate in the US: 2% 3-month

interest rate in the UK: 3%

What will be the approximate value of the accounts receivable in US dollars if the company makes a money-market hedge?

What will be the approximate value of the account receivable in US dollars if the company makes a forward market hedge?