3. Suppose an importer, who expects to receive his shipment of raw materials worth 15,000 in three months, enters into a forward contract where Ees is 0.80. If at the time of delivery o the raw materials Ees = 0.83, how much does the trader benefit/lose by entering into the forward contract? a. He/she loses by $677.71 b. He/she gains by $677.71 c. He/she gains by $450 d. He/she loses by $450 e. He/she loses by $227.71