A Treasurer has received an advance copy of an invoice for an order to be delivered in four days. The treasurer needs to plan a hedging strategy for this invoice. He must decide between selling this receivable at an interest rate of $7\mathrm{.}2\%$ or booking a forward contract at USD$/$AUD $1\mathrm{.}4771.$ The invoice amount is USD $291,000$ with a payment term of $120$ days. In his analysis, the Treasurer has worked with a spot rate USD$/$AUD $1\mathrm{.}4690,$ and the interest rate of $8\mathrm{.}4\%$ applicable to the operating line of credit. What will be the decision of the Treasurer?

A$.$ The Treasurer will prefer the implied forward rate USD$/$AUD $1\mathrm{.}4829$ to cover the backlog risk exposure.

B$.$ The Treasurer will prefer the forward contract rate USD$/$AUD $1\mathrm{.}4771$ to cover the billing risk exposure.

C$.$ The Treasurer will prefer the implied forward rate USD$/$AUD $1\mathrm{.}4829$ to cover the backlog and the billing risk exposure.

D$.$ The Treasurer will prefer the forward contract rate USD$/$AUD $1\mathrm{.}4771$ to cover the backlog and the billing risk exposure.