A$2$ A company based in the US has bought components from Japan for $200$ million, payable in four months' time. The following data is available:

Spot rate: $($bid: $94\mathrm{.}0000)$; $($ask: $94\mathrm{.}0040)$JPY$/$USD

$4$ month forward rate: $($bid: $86\mathrm{.}1000)($ask:$89\mathrm{.}7000)$JPY$/$USD

Euroyen borrowing interest rate: $0\mathrm{.}4\%$ per annum

Euroyen investment interest rate: $0\mathrm{.}1\%$ per annum

Strike price for a call option: $92\mathrm{.}0000$ JPY$/$USD

Premium for this call option: $2\mathrm{.}0\%$

The company's cost of capital: $12\%$ per annum

Required:

Evaluate the company's hedging options.