4) Intel Corporation is a USD functional currency company submitted a competitive bid to supply EUR 10, the European Defence Agency (EDA) as of the functional currency value of the sale arisin 1.14 (that is, US$1.14 for each euro) and the following hedging alter currency company. On December 17, 2019, Intel to supply EUR 10,000,000 in U.S.-made semiconductor equipment to Ice Agency (EDA) as of June 17, 2020. Intel's Treasurer would like to protect Hency value of the sale arising if Intel wins the bid. The spot exchange rate is ) and the following hedging alternatives are available: Instrument Strike Price / u | Upfront Out of Pocket Cost Forward Rate 6-month Forward Transaction $0 1.13 6-month EUR Put Option 1.14 2% of Notional 6-month EUR Call Option 1.14 1.9% of Notional proceeds (ignoring the Choose the best hedging strategy and solve for the net functional currency proceeds time value of money) under this strategy if the bid is successful