Account Payable in Turkish Lira $($TL$).$ Your recent import from Turkey has resulted in a three$-$month account payable in the amount of TL$14\mathrm{.}5$ million. You would like to examine a few hedging strategies. The following information is available. Your borrowing and investment rates in each country are at the same rates.Spot rate $=$ TL$1\mathrm{.}49/$$Three$-$month forward rate $=$ TL$1\mathrm{.}62/$$U$.$S$.$ interest rate $=3\mathrm{.}0$ percent per year $($or $3\mathrm{.}0/4\%$ per $3$ months$)$Turkish interest rate $=8\mathrm{.}4$ percent per year $($or $874/4\%$ per $3$ months$)$WACC of your company $=12\mathrm{.}0$ percent per year $($or $12\mathrm{.}0/4\%$ per $3$ months$)$Cost of an option on TL at the strike price of TL$1\mathrm{.}54/$$ $=2\mathrm{.}0$ percentPlease answer the following question regarding the above case. All answers are in millions.If you use forward rate, the outcome will be: