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Question One. Grohney \& Co Associates expect receive 350,000 in 225 days. The company is in a paradox of using a forwa hedge, a money market hedge or no hedge strategies. Its analysts developed the following information which c be used to access alternative solution: - Spot rate of as of today is $1.50 - 225 day forward rate of pounds today is $1.47 Interest rates are as follows: Grohney \& Co Associates forecasted the future spot rate in 225 days for US dollar per UK Pound as follows: 1 Required: 1. Demonstrate how the firm will apply the following hedging strategies and hence advise on the best hedging strategy. (i) A forward hedge (5 marks) (ii) A money market hedge (5 marks) 2. By comparing the results of the appropriate hedging strategy in (1) above and the no hedging strategy advise the firm on the appropriate course of action to undertake