A french company has finalized the sale of goods to a British client. The French firm will receive 40 million GBP in 32 days. The corporate treasurer at the French company wants to hedge the foreign exchange risk of this transaction and receives the following exchange rate information from a dealer: EUR/GBP spot =0.8752 One-month forward points =1.4 If the 12 -month forward rate is 0.87295, then the 12 -month forward points are closest to: 22.5 2.25 0.00225