Need the answer to i & ii based on 3a

3. (a) Maendeleg Co., a U.S. firm plans to use a money market hedge to hedge its payment of 5 million Australian dollars for Australian goods in one year. The US interest rate is 6 percent, while the Australian interest rate is 10 percent. The spot rate of the Australian dollar is $0.96, while the one year-forward rate is $0.84. . Determine the amount of U.S. dollars needed in one year if a money market hedge is used (3 points) (ii) 11 Using the information in the previous question, would Maendeleg Co. be better off| hedging the payables with a money market hedge or with a forward hedge? (3 points)