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3. Compare and contrast the cash flow at maturity and the net dollar proceeds if instead the options market hedge is used by X co.

3. Compare and contrast the cash flow at maturity and the net dollar proceeds if instead the options market hedge is used by X co. You may assume a put option of 12,000,000 with an exercise price of $1.36/ with a three-month expiration and an option premium of $ 0.05 per .

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