Question: Tagaytay Company is a golf course developer that constructs approximately 5 courses each year. On January 1, 2011, Tagaytay Company has agreed to buy 5,000

Tagaytay Company is a golf course developer that constructs approximately 5 courses each year. On January 1, 2011, Tagaytay Company has agreed to buy 5,000 trees on January 31, 2012 to be planted in the courses it intends to build. In recent years, the price of trees has fluctuated wildly. On January 1, 2011, Tagaytay entered into a forward contract with a reputable bank. The price is set at P500 per tree exam

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