Company N CEO has recently established his office in the U$.$S$.$ and acquired a car for $50,000$ using a three$-$month payment plan. He has adequate funds in his U$.$S$.$ bank account, where the monthly interest rate is $0\mathrm{.}40\%$ compounded monthly, to cover the car's cost. Currently, the spot exchange rate stands at $$1\mathrm{.}60/,$ while the three$-$month forward exchange rate is $$1\mathrm{.}50/.$ In the UK$,$ the money market interest rate for a three$-$month investment is $3\mathrm{.}5\%.$ The two following payment options are available for purchasing the car.i$)$ Purchase a $50,000$ forward with the funds kept in the US bank.ii$)$ Purchase a number of pounds at the current spot rate and invest the amountin the UK for three months until its maturity value reaches $50,000.$ You are required to evaluate each payment method and suggest your preferred method with workings.