28. (50 points) Assume that Chicken Inc. expects to re of the Singapore dollar is $.60. The one-year forward created a probability distribution for the future spot rate to receive S$1.000.000 in one year. The existing spot rate rate of the Singapore dollar is $.63. Chicken Inc. future spot rate in one year as follows: Future Spot Rate $.59 .63 .67 Probability 20% 50 30 Assume that one-year put options on Singapo a premium of $.04 per unit. One-year call of price of $.62 and a premium of $.04 P car put options on Singapore dollars are available, with an exercise price of $.64 and 4 per unit. One-year call options on Singapore dollars are available with an exercise ma a premium of $.04 per unit. Assume the following money market rates: U.S. Deposit rate Borrowing rate Singapore 6% 7% 8% 7% iven this information, determine whether a forward hedge, money market hedge, or a currency options hedge would be most appropriate. Then compare the most appropriate hedge to an unhedged strategy, and decide whether Chicken Inc. should hedge its receivables position