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3 R Limited exports goods worth USD 5 0 million to TMK Ltd . and the payment will be receivable one year from now. 3

3R Limited exports goods worth USD 50 million to TMK Ltd. and the payment will be receivable one year from now. 3R Ltd is planning to manage its foreign exchange exposure resulting from the export. The following information is collected:
Spot rate: $1=78.7410/78.7980
1 year forward rate: $1=82.7289/82.7983
1 year future rate: $1=82.2115/82.3110
1 year USD interest rate: 1.5%-1.8%
1 year Indian Rupee interest rate: 6.5%-7.5%
1 year call option at a strike price of $1=82.5 is trading at a premium of 1.75
1 year put option at a strike price of $1=80.5 is trading at a premium of 1.00
Please suggest what 3R should do to manage its foreign exchange exposure. (Show all calculations, evaluation of different choices that the 3R has)

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