You are us company, 500,000 bp (british pound) payable to uk in one year. answer in terms of us$. information for forward contract: forward exchange rate (one yr): 1.48 $/bp information for money market instruments (mmi): current exchange rate: 1.50 $/bp investment return at aerion fund management (in uk): 4% annual interest rate of borrowing from bank of america (in usa): 2% annual information you need for currency options contract: exercise options premium at 0.015 $/bp interest rate of borrowing from bank of america (usa): 2% annual allowed to exercise options at 1.54 $/bp what are the costs of forward contract