15. Nickel Plains of Canada has purchased 500,000 pounds of nickel from Coin Ltd. at US$6.96, payable in 90 days. The current spot rate is 1.3404 (C$/US$) and the 90-day forward is 1.3421. The vice-president of finance at Nickel Plains suggests that the spot rate in three months' time will be 1.3333. Interest rates in Canada are currently 2 percent for 90 days and 1.6 percent in the United States. a. Outline the various options available to Nickel Plains to handle its foreign exchange exposure. b. Make a recommendation.