8. Celine Co. is an American company that will need 500,000 in 6 months to pay for German imports. Today's spot rate is $1.5215/ and the 180-day forward rate is $1.5520/. Interest rates are 3% in Europe and 3.5 % in the United States. Celine can also purchase a call option on euros with a strike price of $1.50/ and a call premium of $0.01 per euro. Specify how the company would conduct a forward hedge and calculate the guaranteed dollar cost of the German imports