Refer to the rates below. Travis Corp. will receive 430,000…
Refer to the rates below. Travis Corp. will receive 430,000 Jordanian dinar (JOD) in 360 days. The current spot rate of the dinar is $1.58, while the 360-day forward rate is $1.49. How much will Travis receive in 360 days from implementing a money market hedge (assume any receipts before the date of the receivable are invested)? U.S.Jordan360-day borrowing rate5.4%4.2%360-day deposit rate5.1%3.5%