PROBLEM 12-6 Hedge of an Unrecognized Foreign Currency Commitment - Fair Value Hedge LO 6 Citron Company is a U.S.-based citrus grower. On October 1, 2019, the company entered into a contract to ship 25,0oo boxes 0 grapefruit on January 28 to Japan. Payment of 50,100,0oo yen is to be received on March 29, 2020. On October 1, Citron also entered into a forward contract to sell 50,100,000 yen on March 29 at the forward rate of \$.007412. The forward contract is considered a hedge of the unrecognized foreign currency commitment. The direct exchange rate and forward rate for the yen were as follows: Reauired: . Compute ne increase or decrease in ncome ior eacn nscan year as a resul on me uansachons anove. C. Compute the increase or decrease in income each period that would have occurred if Citron had not entered into the forward contract