5. As a US importer, we have the option of hedging with forwards, options, or not hedging. The size of the transaction is 1.5 million Polish Zloty. The current Exchange Rate is .2778-79 PLNUSD, and the 3 month forward Rate is .2810-11 PLNUSD . Polish Zloty options with an exercise price of . 281 sells for a price of $.02 for calls and $.01 for puts. There are 250,000 Zlotys in 1 option contract. In 3 months when the transaction occurs, the final exchange rate is .2200 -01, and option prices are .07 for calls and .00 for puts. (10) a) How much would you receive/pay if you had hedged with forwards? b) How much would you receive/pay if you had hedged with options? c) How much would you receive/pay if you had not hedged? d) Rank them