A U$.$S$.$ exporter will receive SGD$1,000,000$ for a shipment of goods to Singapore. The exporter will receive the SGD in $3$ months. If the exporter wishes to use a money market hedge to protect the $ receivable what will the exporter do$?$

$\backslash$table$[[,$Bid,Ask,$],[,$SGD$1\mathrm{.}3613/$$$,$SGD$1\mathrm{.}3618/$$$,],[S_0,$SGD$1\mathrm{.}3601/$$$,$SGD$1\mathrm{.}3621/$$$,],[F_t=3mo.,$SGD$,,],[i^{\text{\$}},0\mathrm{.}75\%,0\mathrm{.}95\%,(\%$ for $3$ months$)],[i^{SGD},0\mathrm{.}90\%,1\mathrm{.}04\%,(\%$ for $3$ months$)]]$

None of these answers are correct

Invest in U$.$S$.$ dollars in the discounted amount of $$992,555\mathrm{.}83$

Borrow in U$.$S$.$ dollar in the discounted amount of $$991,080\mathrm{.}28$

Borrow in Singapore dollars in the discounted amount of SGD$989,707\mathrm{.}05$

Invest in Singapore dollars in the discounted amount of SGD$990,589\mathrm{.}40$