A Japanese exporter has a €1,000,000 receivable due in one year. Spot and forward exchange rate data given as follows: Current Spot $/Euro FX rate= $1.2000/EuroOne year Forward ($/Euro)=$1.2500/EuroCurrent Spot Yen/$ FX rate =100 Yen/$One year Forward Yen/$ FX rate=120 Yen/$Compute how many Yen will the Japanese Exporter lock in by conducting a Money Market Hedge