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Your firm is located in the U.S and a major customer is located in Europe. DUe to historical negotiations, your customers pay your firm in

Your firm is located in the U.S and a major customer is located in Europe. DUe to historical negotiations, your customers pay your firm in euros. Your firm has just recorded a sale to the customer for 50,000,000 pounds. The cusotmer has 30 days to pay the invoice. The current spot rate is 1 pound = $1.38. The foreign exchange expert at your firm believes the foreign exchange rate in 30 days will either be 1 pound = $1.10 or 1 pound = $1.50. Assuming that the U.S dollar depreciates, what is the expected U.S dollar value of the sale at the future exchange rate?

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