2 pts Question 18 The U.S.-based Minnesota Mining Company (MMC) has a one-year account receivable from a German manufacturing company worth Euro 1,000,000. The current spot rate is $1.1500/, and the 1-year forward rate is $1.1900/. MMC can borrow Euro in Frankfurt at 2% per annum, MMC has a weighted average cost of capital of 8% per annum. Suppose twelve month call and put options on Euros are available. The call option has an exercise price (X) of $1.13/ and a premium of 1.5%. The put option has an exercise price (X) of $1.16/ and a premium of 1%. Assume MMC decides to execute an option market hedge. 9 What are MMC's net US dollar proceeds from the Euro 1,000,000 receivable in 12-months if at expiration the spot rate is $1.1800/? Edit View Insert Format Tools Table 12ptParagraph U AL 0 words