car corp.-based company) sold parts to a Korean customer on December 16, 2011, with payment of 10 million Koren won to be receive on January 15, 202....

car corp.(a U.S.-based company) sold parts to a Korean customer on December 16, 2011, with payment of 10 million Koren won to be receive on January 15, 202. the following exchange rates applied:forward rate to 1/150.000980.000930.00095Assuming a forward contract was entered into, what would be the net impact on Car Corp's 2011 income statement related to this transaction? assume an annual interest rate of 12% and a fair value hedge. The present value for one month at 12% is .9901The answer is 295 (gain)