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Easter Inc buy some of their goods from Australia. The most recent invoice is for A$1,300,000 which is due in 2 months time. The current exchange rate is A$2.80. They have been offered a forward contract to buy Australian dollars at A$2.90 in two months time. The exchange rate is not expected to go above A$3.00. What is the maximum loss that the company could make by hedging using the forward contract? Maximum loss is $________ (to the nearest $100) |