Micca metals, Inc is a sspecialty materials and metals company located in Detroit, Michigan, the company specializes in specific precious metals and materials that are used in a verity of pigment applications in may industries including cosmetics, appliences and a veritey of high tinsel metal fabricating equipment. Micca just purchased a shipment of phosphates from Morocco for 6,000,000 dirhams, payable in 6 months. 6-month call options on 6,000,000 dirhams at an exercise price of 10.00 dirhams per dollar are available from Bank Al- Mughrub at premium of 2%. 6-month put options on 6,000,000 dirhams at an exercise price of 10.00 dirhams per dollar are available at a premium 3%. compare and contrast alternative ways that Micca might hedge its foreign echange transaction exposure. what is your recommendation? Assumption: Shipment of phosphate from Morocco, Moroccoan dirhams 6,000,000 Miccas cost of capital (WACC) 14.000% Spot exchange rate, dirhams/$ 10.00 6-month forward rate, dirham/$ 10.40