Question: PLEASE SOLVE USING EXCEL, SHOW WORK, AND EXPLAIN HOW YOU GOT EACH NUMBER!!! Thank you! Cray Research sold a super computer to the Max Planck

PLEASE SOLVE USING EXCEL, SHOW WORK, AND EXPLAIN HOW YOU GOT EACH NUMBER!!!

Thank you!

Cray Research sold a super computer to the Max Planck Institute in Germany on credit and invoiced E8.2 million payable in six months. Currently, the six-month forward EUR/USD is 1.1054 and the foreign exchange advisor for Cray Research predicts that the spot rate is likely to be 1.0659 in six months. What is the expected gain/loss from the forward hedging? (USD,no cents) Selected Answer: ( 14,896 Correct Answer: 323,900 # 1

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