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A firm has a payable of 2 , 4 0 0 , 0 0 0 . 0 0 . They hedge this exposure with a

A firm has a payable of 2,400,000.00. They hedge this exposure with a call option with a strike price of $1.2083/. The premium of the option is $0.0121. If at the time of payment the spot price ends up equal to $1.2687/. What is the firm's total cost?
Group of answer choices
None of the alternatives
$3,073,920
$2,870,880
$2,899,920
$2,928,960

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