note zero pass through

Dell is selling 20,000 units in Europe at an average price of 1,700 per unit. Both the spot and forward exchange rates are $1.20/. The cost of each unit in dollars is $1,500 per unit. The elasticity of demand for Dell computers in Europe is =1.5. Now consider a depreciation of Euro (relative to US dollar) from $1.20/ to $1.08/ and assume zero passthrough. What is Dell's dollar profit exposure and how to hedge it using forward? $45 million; buy $45 million forward E45 million; sell 645 million forward E34 million; sell 34 million forward $34 rillion, buy $20 million forward