Question: Problem 7 will you plz help, thanks for your previous answers Colony Corp., a U.S. corporation, entered into a contract on November 1, 2010, to

Problem 7 will you plz help, thanks for your previous answers

Colony Corp., a U.S. corporation, entered into a contract on November 1, 2010, to sell two machines to Crown Company, for 95,000 foreign currency units (FCU). The machines were to be delivered and the amount collected on March 1, 2011.

In order to hedge its commitment, Colony entered into a forward contract for 95,000 FCU delivery on March 1, 2011. The forward contract met all conditions for hedging an identifiable foreign currency commitment.

Selected exchange rates for FCU at various dates were as follows:

November 1, 2010

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