Your firm is a Swiss exporter of bicycles. You have sold an order to a British firm for $1,000,000$

worth of bicycles. Payment from the British firm $($in pounds sterling$)$ is due in $12$ months. Use a

money market hedge to redenominate this one$-$year receivable into a franc$-$denominated

receivable with a one$-$year maturity.

The following were computed: PLEASE USE PICTURE TEXT IS MISSING IMPORTANT DATA.

SFr$.2,000,000$

SFr$.2,151,118\mathrm{.}62$

SFr$.2,068,383\mathrm{.}28$

SFr$.1,921,941\mathrm{.}75$

SFr$.2,109,548\mathrm{.}17$