Jackson Corp. (a U.S.-based company) sold parts to a Korean customer on December 16, 2021, with payment of 20 million Korean won to be received on January 15, 2022. The following exchange rates applied: 
Assuming a forward contract was entered into on December 16, at what amount should the forward contract be recorded at December 31, 2021? Assume an annual interest rate of 12% and a fair value hedge. The present value for one month at 12% is 0.9901.
Definitions:
Reduced Gradient
A numerical optimization method that calculates the direction in which an objective function should be modified to achieve the quickest improvement, considering constraints as gradients as well.
Nonlinear Optimization
The process of maximizing or minimizing an objective function that is nonlinear in its variables, subject to constraints.
Reduced Cost
In optimization, the amount by which an objective function's value could decrease by increasing a non-basic variable by one unit.
Projected Revenue
An estimated amount of money that an organization, project, or product is expected to generate over a specific period in the future.
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