A firm has a payable of $P12,500,000\mathrm{.}00.$ They hedge this exposure with a call option with a strike price of $$\frac{0\mathrm{.}2900}{P}.$ The premium of the option is $$0\mathrm{.}0290.$ If at the time of payment the spot price ends up equal to $$\frac{0\mathrm{.}2958}{P}.$ What is the firm's total cost?

$$3,987,500$

$$3,262,500$

None of the alternatives

$$3,625,000$

$$4,060,000$