QUESTION 2 Umar Enterprise sold laptops and photostat machines to the AZ Institute in Germany on credit within six months payables with invoiced €10 million. Currently, the six-month forward exchange rate is $1.10/€ and the financial advisor for Umar Enterprise predicts that the spot rate is likely to be $1.05/€ in six months. marks) Compute the estimated profit or loss from forward hedging. b. Would you advise Umar Enterprise to hedge? Discuss. (3 marks) (10 (4 marks) A c. If the future spot rate is the same as today's forward exchange rate. Would you advise on hedging? Discuss. (3 marks)