A U.S. company orders merchandise from a Japanese company at a cost of 100 million yen. The merchandise must be paid for in yen . Exchange rates shown below.

	Yen per $1	$ per 1 yen
Spot	106.45	0.00939
30-day forward	104.55	0.00956
90-day forward	103.22	0.00969
180-day forward	102.00	0.00980

a. How many U.S. dollars must be raised if payment is due today?

b. Is the dollar appreciating or depreciating against the yen? Explain.

c. How many U.S. dollars must be raised if payment is due in 90 days?

d. Who bears exchange rate risk, the U.S. company or the Japanese company or both? Explain.

e. Describe 3 ways in which the company can reduce exchange rate risk.

Please show how to do this in excel with formulas so I can do a new problem on my own. Thank you in advance!