Money corp used a forward hedge to hedge its payables of, Finance Basics

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Money corp used a forward hedge to hedge its payables of

Question: Money Corp. used a forward hedge to hedge its payables of Malaysian ringgit (MYR) 1,500,000. The forward rate was $.23. On the day Money Corp. received the MYR, the spot rate was $0.21/MYR. What is the real cost of hedging the payable? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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