Madame Butterfly waited for the return of Lt. Pinkerton). The sale was priced in yen at 23,000,000, with payment due in three months. The exchange rate and interest rate data are shown in the popup window: dollar value of this receivable. 3-month options are available from Kyushu Bank: call option on 23,000,000 at exercise price of 117.000/$ : a 1.4% premium; or a put option on 23,000,000, at exercise price of 117.000/$ : a 3.4% premium. a. What are the costs and benefits of alternative hedges? Which would you recommend, and why? b. What is the break-even reinvestment rate when comparing forward and money market alternatives? lupy ms cumems m a spreausinel. Click on the icon located on the top-right corner of the data table in order to copy its contents into a spreadsheet. How much in U.S. dollars will Krystal receive in 3 months with a money market hedge? How much in U.S. dollars will Krystal receive in 3 months with an option hedge if the expected spot rate in 3 months is assumed to be greater than 117.000/$? b. What is the break-even reinvestment rate when comparing forward and money market alternatives