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Your small multinational US business has a 25,000 Euro capital expense to purchase some tools made in Germany in 6 months. The 6 month EUR

Your small multinational US business has a 25,000 Euro capital expense to purchase some tools made in Germany in 6 months. The 6 month EUR forward rate is 1.15. You hedge 100% of the exposure using a forward contract. If the actual exchange rate in 6 months is 1.23, then what is the US dollar gain or loss on your HEDGE CONTRACT?

(Note: Since I am asking about the hedge contract only, this is Step 2 of the 3 step method of derivative analysis)

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