Your firm is a U.S.-based exporter of bicycles. You have sold an order to a French firm for 1,000,000 worth of bicycles. Payment from the French firm (in euro) is due in three 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 how much (irn $) your firm will have U.S.$ equiv. Currency per U.S.$ Monday Tuesday Monday Country Tuesday 1.6000 1.6100 1.6300 1.6600 1.7200 0.625 0.6211 0.6173 Britain(pound)62,500 1 Month Forward 3 Months Forward 6 Months Forward 12 Months Forward 1.6100 1.6300 1.6600 1.7200 1.8000 0.6211 0.6173 0.6024 0.60240.5814 0.5814 0.5556