Your firm is a U.K.-based importer of bicycles. You have placed an order with an Italian firm for 1,000,000 worth of bicycles. Payment (in euro) is due in 12 months. Detail a strategy using futures contracts that will hedge your exchange rate risk. Have an estimate of how many contracts of what type and maturity. Country USD per or Britain (Pound) 10,000 1.9600 1 Month Forward 1.9700 3 Month Forward 1.9800 6 Month Forward 1.9900 12 Month Forward 2.0000 Euro 10,000 1.5600 1 Month Forward 1.5700 3 Month Forward 1.5800 6 Month Forward 1.5900 12 Month Forward 1.6000