For each situation described below, indicate which financial instrument you think would be the most appropriate to use and why. $(3$ points each$)$

a$.$ Moore Brothers imports hundreds of cases of fine champagne from France each month that typically take between $30$ and $60$ days to arrive. Due to the fragile nature of the cargo, they prefer to postpone payment until delivery.

b$.$ Bank of America has substantial Treasury bill holdings but finds itself with an insufficient level of required reserves. The reserve deficiency is expected to last for one day.

c$.$ The city of St$.$ Paul needs to raise $$90$ million for improvements and repairs to a toll bridge.

d$.$ REI finds itself in need of some short$-$term working capital to finance an increase in inventory levels for the coming ski season.

e$.$ Robinson Luggage imports fine leather from Argentina and is concerned that the value of the Argentine peso will rise in relation to the US dollar in coming months.