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You plan to visit Paris in three months to attend an international business conference. You expect to incur the total cost of 6,000 for lodging,

You plan to visit Paris in three months to attend an international business conference. You expect to incur the total cost of 6,000 for lodging, meals and transportation during your stay. As of today, the spot exchange rate is ($0.80/) . Calculate the future dollar cost of meeting this 6,000 obligation if you decide to hedge using a forward contract. Assume no arbitrage and that the three-month interest rate is 8 percent per annum in the United States and 4 percent per annum in Paris.

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