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3. A U.S. investor makes a firm bid in GBP to buy a piece of real estate in London. Would you suggest using a forward,

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3. A U.S. investor makes a firm bid in GBP to buy a piece of real estate in London. Would you suggest using a forward, or an option? If you suggest an option, should it be a call or a put option? Why? (Note: The bid may be accepted or rejected. If accepted, the investor will have to make a GBP payment.)

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