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Newton Co. is a UK based multinational company that has the following expected transactions. One month: Receipt of $240,000 One month: Payment of $140,000 Three months: Receipt of $300,000 Newton Co's finance manager has collected the information below: Spot rate ($ per ): 1.7820 + 0.0002- One-month forward rate ($ per ): 1.7829 + 0.00034 Three months forward rate ($ per ): 1.7846 + 0.0004 Money market rates for Newton Co.: . Borrowing One year sterling interest rate 4.9% One year dollar interest rate- 5.4% Deposit 4.6% 5.1% Assuming that it is 1 April now; REQUIRED: d) Calculate the expected sterling receipts in one month and in three months using the forward market. [3 Marks] Please provide the answer here; you may increase space where necessary e) Calculate the expected sterling receipts in three months using a money market hedge and recommend whether a forward market hedge or a money market hedge should be used. [5 Marks] Please provide the answer here; you may increase space where necessary