Belsen purchased inventory on december 1 2009nbspwhat will, Financial Management

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Belsen purchased inventory on december 1 2009nbspwhat will

Belsen purchased inventory on December 1, 2009.

Payment of 200,000 stickles was to be made in sixty days. Also on December 1, Belsen signed a contract to purchase §200,000 in sixty days.

The spot rate was $1 = §2.80, and the 60-day forward rate was $1 = §2.60. On December 31, the spot rate was $1 = §2.90 and the 30-day forward rate was $1 = §2.62.

Assume an annual interest rate of 12% and a fair value hedge. The present value for one month at 12% is .9901.

What will be the book value of the Forward Contract on December 31?

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