I need the solution and the answer of this question. I am in a hurry, so quick response will be appreciated. Thank you!

Short Link Company (SLC) purchased a machine from Frankfurt Ltd., a German company, on August 31, 2020 for 650,000. This machine is expected to have a useful life of 10 years with no residual value. Payment is due on October 15, 2020. On August 31, 2020, to hedge the purchase, SCL entered into a forward contract to purchase 650,000 on October 15, 2020. SLC has a September 30 year end. Exchange rates were as followed Date Spot rate Forward rate for settlement on October 15, zozo 61= $1.63 CAD 1= $1.66 CAD 31-Aug-20 30-Sep-20 15-Oct-20 1= $1,66 CAD EI= $1.64 CAD 1= $1.63 CAD C1= $1.63 CAD Required: What is the FMV of the forward contract on September 30, 2020? Note - enter a positive number, regardless of whether you determine the amount to be an asset or a liability As a continuation of the previous question, is the forward contract at September 30, 2020 as asset or a liability? Enter either "asset" or "liability". Using the information from the previous two questions: Assume that SLC did not enter into a forward contract for its purchase from Frankfurt Ltd. Provide all journal entries that SLC would prepare related to this foreign purchase for the year ended September 30, 2020