A Japanese exporter has a 1,000,000 receivable due in one year. Detail a strategy using a money market hedge that will eliminate any exchange rate risk. Spot exchange rates 1-year Forward Rates $1.25=1.00$1.00=/100$1.2262=1.00$1.03=$100 Borrow 970,874 today. Convert the euro to dollars, receive $1,213,592. Convert these dollars to yen at the spot rate, receive . Borrow 952,381 today, Convert the euro to dollars, convert these dollars to yen to receive 7113,379566 . Borrow 980,392 today. Convert the euro to dollars at the spot exchange rate, convert these dollars to yen at the forward rate. Convert 116,713,803 to dollars at the forward rate; convert dollars to euro at the forward rate; lend 6980,392 at 2.00 percent