A firm has a payable of 200,000,000.00. They hedge this exposure with a forward participation contract with a guaranteed rate of $0.0175/\and a participation rate of 20%. If at the time of payment the spot price ends up equal to $0.0193/X, how much will the firm have to pay? $3,500,000 $3.572,000 $3,860,000 $3.428,000 None of the above