Question $8$: $($NBAA ADAPTED$)$

Mango Enterprises Ltd $($MEL$)$ is an import export company based in Dar es Salaam. On February $28$th$,$ the company contracted to buy $1,500$ tons maize from Malawi at a price of Kwacha $1,820$ per ton, MEL has arranged that shipment of the product will be made directly to a customer in Uganda who has bought the maize at Ushs. $4620$ per ton. Of the total quantity, $500$ tons will be shipped during March and the balance by the end of April. Payment to the suppliers is to be made immediately on shipment, whilst one$-$month credit from the date of shipment is allowed to the Ugandan customer. Assume MEL arranges with its bank to cover these transactions in Tshs on the forward exchange market for which the exchange rates as at $28$th February being those given below:

$\backslash$table$[[,$Kwacha,Ushs$],[$Spot$,1\mathrm{.}0745-1\mathrm{.}0775,3\mathrm{.}84-3\mathrm{.}88$