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Question 14 10 Suppose Bank One offered direct spot and forward markets quotes for JPY...

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Question 14 10 Suppose Bank One offered direct spot and forward markets quotes for JPY over three points in time now (1/1/00, three months later (4/1/XX), and six months later 17/1/XX JPY Spot 3 Month Forward 6 Month Forward 1/1/XX 0.0094 0.0096 0.0097 4/1/XX 0.0088 0.0077 0.0071 7/1/XX 0.0089 0.008S 0.0080 On 1/1/XX, IBM took a los position in a 3-month forward contract for 100 Million Japanese Yens with Bank One. Based on this transaction to will incuta the contract expires when Loss of $110,000 Profit of $50.000 Loss of $80,000 Pront of $110.000

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