Accounts payable in Turkish Lira (TL). Your recent import from Turkey has resulted in a three-month account payable in the amount of TL 14.5 million. You would like to examine a few hedging strategies. The following information is available.

You're borrowing and investment rates in each country are the same rates.

Spot rate = TL1.49/$

Three-month forward rate= TL1.62/$

U.S. Interest rate= 3.0% per year ( or 3.0/4% per 3 months)

Turkish interest rate = 8.4 percent per year (or 8.4/4% per 3 months)

WACC of your company = 12.0 percent per year (or 12.0/4% per 3 months)

Cost of an option on TL at the strike price of TL1.54/$ = 2.0 percent

please answer the following questions regarding the above case. All answers are in millions.

If you use the option market and strike it at the very end, your outcome will be (the company uses its WACC to account for time value of money).

A. $9.215115

B. $9.610215

C. none of the answers in this question are correct

D. $9.616054