A maize producer forecasts in February $2022$ that she will harvest $60,000$kgs of maize by the end of the year. The price on futures contract for December $2022$ maize is $$7$ per kg$.$ Maize future contracts are traded in $5000$ kg units.

a$.$ Explain the risk that the farmer is exposed to$.(5$ marks$)$

b$.$ Determine the number of contracts that the maize farmers can hedge the risk she is exposed at the time of harvest in the time considering that the price of maize rise to $$8$ per kg and then calculate the total revenue after hedging has been done. $(10$ marks$)$

c$.$ Explain how a company use a Forward Rate Agreement $($FRA$)$ to hedge against financial risk. $(5$ marks$)$

d$.$ Discuss how a company that is involved in importing goods from Country X$,$ may use Swaps to hedge against foreign exchange rate risk. $(5$ marks$)$