1. Suppose that the U.S. firm Halliburton buys construction equipment from the Japanese firm Komatsu at a price of ¥300 million. The equipment is to be delivered to the United States and paid for in one year. The current exchange rate is ¥108 = $1. The current interest rate on? one-year U.S. Treasury bills is 9?%, and on? one-year Japanese government bonds the interest rate is 7?%.

a. If Halliburton exchanges dollars for yen today and invests in Japan for one year, it will need $2,596,054 to exchange today in order to have ¥300 million in one year. (Round your response to the nearest dollar.)

b. If Halliburton enters a forward contract, agreeing to buy ¥300 million in one year at an exchange rate of ¥106 = $1, it will need $2,596,503 today if it plans to invest the dollars at the U.S. interest rate of 9%. (Round your response to the nearest dollar.)

As you can see I have the answers, I just need the formula on how the answers were figured out in MS Excel? I have worked on this for a while but cannot seem to come to the same result.