1. Each month, Vin (an Irish firm) receives an order for tennis balls from a British sporting goods distributor. The monthly payment for the tennis balls is denominated in British pounds, as requested by the British distributor. David Hewson, owner of Vins, must convert the pounds received in euros. (Q1: 10 marks, each 5 marks) a. Explain how Vins could utilise the spot market to facilitate the exchange of currencies. b. Explain how Vins is exposed to exchange rate risk and how it could use the forward market to hedge the risk. please explain with this criteria Relevance of your answer to the question. (b) Clarity and precision of expression. (c) Supporting documentation for arguments. (d) Proper acknowledgement of documentation and the use of a bibliographic convention (e) Logical planning and sequence.