Adobe, a US company, owes 150,000 euro in 90 days for a recent shipment of German products. It faces the following interest and exchange rates: Spot rate: $1.18/ Forward rate (180 days) $1.16/ 90-day call option on at $1.19/ 1.5% premium 90-day put option on at $1.17/ 0.5% premium U.S. dollar annual interest rate: 4% Euro annual interest rate: 2.5% a. What is the hedged cost of Adobes payable using a forward market hedge? (1 mark) b. What is the hedged cost of Adobes payable using a money market hedge? (2 marks) c. Based on a and b, what is the preferred strategy? (1 mark) d. What is the hedged cost of Adobes payable using an option? (3 marks) e. At what exchange rate is the cost of the option just equal to the cost of the forward market hedge? to the cost of the money market hedge? (2.5 marks)