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How much would sheridan save by hedging

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Question - Sheridan Industries has purchased equipment from a Brazilian firm for a total cost of 315,000 Brazilian reals. The firm has to pay in 30 days. Citibank has given the firm a 30-day forward quote of $0.3102/real. Assume that on the day the payment is due, the spot rate is $0.3424/real. How much would Sheridan save by hedging with a forward contract?

Reference no: EM132848978

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