K-Roo Ltd,'s US subsidiary has an outstanding AUD 599290 receivable that it is expecting to receive in 35 days. The bank provides the following alternatives to hedge K-Roo's exposure: A forward contract at a rate of USD1.0577/AUD, which can be tailored perfectly to K-Roo's outstanding receivable. A futures contract with a maturity in 40 days and a contract size of AUD62,500, currently priced at USD1.0591/AUD. Because K-Roo cannot perfectly hedge its exposure using a futures contract, it uses the nearest whole number of contracts to its exposure (i.e. it rounds the number of contracts up or down to nearest whole number). It closes out its futures position on the day of the receivable. The current spot rate is USD1.033/AUD. The spot and futures rates for the USD/AUD in 35 and 40 days are: Day Spot Futures t = 35 USD1.038/AUD USD1.0368/AUD t = 40 USD1.0348/AUD USD1.0347/AUD What is the USD value of this receivable on the payment date if K-Roo were to hedge the exposure using a forward vs a futures contract? O a. The USD value of the receivable using the forward contract is USD634708.04, and USD621344.12 using the futures contract. b. The USD value of the receivable using the forward contract is USD633869.03, and USD621344.09 using the futures contract. O c. The USD value of the receivable using the forward contract is USD633869.03, and USD636000.52 using the futures contract. O d. The USD value of the receivable using the forward contract is USD633869.03, and USD622063.24 using the futures contract. O e. The USD value of the receivable using the forward contract is USD622063.24, and USD633869.03 using the futures contract. Clear my choice