Midline Manufacturing has purchased $120$ tonnes of aluminum from Quality Mines at US $$2,900$ per tonne payable in one year. The current spot rate is $1\mathrm{.}3852($C$$/$US$$)$ and the one$-$year forward is $1\mathrm{.}3622.$ The company's financial advisor suggests that the spot rate in one year will be $1\mathrm{.}3552.$ Interest rates in Canada are currently $3\mathrm{.}85$ percent for one year and $3\mathrm{.}65$ percent in the United States.

Required:

a$)$ Outline with calculations three alternative actions available to Midline to handle its foreign exchange exposure. $(10$ marks$)$

b$)$ Advise the company which alternative they should take, providing the reason for your recommendation $(2$ marks$)$