Sara Fortune is the Chief Financial Officer [CFO] of Daytona Manufacturing, a U.S. based manufacturer of gas turbine equipment. She has just concluded negotiations for the sale of a turbine generator to Crown, a British firm for TWO million pounds. This single sale is quite large in relation to Daytona’s present business. Daytona has no other current foreign customers, so the currency risk of this sale is of particular concern. The sale is made in September with payment due six months later in March. Sara Fortune has collected the following financial market information for the analysis of her currency exposure problem: You are the Financial Manager of the Trading Division of XYZ Foreign Exchange Division.
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