1. ABC, a New York Firm, expects to receive 60 million Mexican pesos in 90 days. The current spot rate is 0.1305 $/Peso, the 90 day forward rate is 0.1225 $/Peso, Mexican interest rate is 7%, U.S. interest is 3%. ABC CFO hedges their exposure through the money market, in the following manner:

   	A.	Sells 60 million Pesos forward & gets $
   	B.	Borrow 61,050,000 Mexican Pesos
   	C.	Borrow 58,968,059 Mexican Pesos
   	D.	Borrow $7,030,000