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Your U.S. firm imports bicycles from the Philippines. You recently imported a shipment for which you owe 820,000,000 Philippine Pesos (PHP) in 3 months' time.

Your U.S. firm imports bicycles from the Philippines. You recently imported a shipment for which you owe 820,000,000 Philippine Pesos (PHP) in 3 months' time. How many USD would you need to start saving in the bank today, if you also enter into a 3-month forward exchange contract to ensure complete payment? 19,421,116,52 33,828,382,838.28 19,485,148.51 insufficient information provided

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