6. Elaine Corporation sold equipment to an Argentine firm. Elaine Corp. will receive ARS 2.000,000 in 180 days (ARS-Argentine peso). It considers using (1) a forward hedge, (2) an option hedge, (3) a money market hedg (4) no hedge. Its analysts develop the following information, which can be used to assess the alternative solutions: Spot rate .30 USD/ARS . 180-day forward rate .32 USD/ARS Annual interest rates are as follows: deposit rate: 10% in Argentina, and 5% in the US. borrowing rate: 12 5% in Argentina, and 5.5% in the US. A call option on ARS that expires in 180 days has an exercise price of USD .32 and a premium of USD.02. . A put option on ARS that expires in 180 days has an exercise price of USD.31 and a premium of USD.03. Elaine Corporation forecasted the future spot rate in 180 days as follows: Possible Outcomes 28 USD/ARS 31 USD/ARS 35 USD/ARS Probability 10% 60% 30% Which strategy would you recommend to Elaine Corporation? Why? Be explicit