You have a $6,000,000$ Norwegian Krone receivable. You decide to hedge with a futures contract. You can buy or sell three $2,000,000$ Krone futures contracts at $\frac{\mathrm{.}0954}{N}OK$

a$.$ Assuming you are unhedged, are you concemed that the spot rate will increase or decrease?

A To hedge your exposure, would you buy or sell a futures contract?

c$.$ Assume the price of the Krone decreases to $$\frac{0\mathrm{.}0943}{?}$ NOK by the time you receive the Krone. Calculate the gain$/$loss on the futures contracts.

d$.$ Calculate the amount of just the receivable $($assuming no futures contracts$).$

c$.$ Calculate the net amount you would receive $c+d.$