Please no excel usage Use the following information to answer the next two questions. A Canadian company with operations in Germany expects to purchase 20 million euros worth of raw materials in three months. The company is considering using a three month forward contract on 20 million euros to mitigate exchange rate risk. The forward rate is C$1.25/euro. Assume that the spot rate at expiration is C$1.30/euro. What should the company do to hedge its exchange rate risk? A) Wait three months and buy 20 million euros in the foreign exchange market. B)Sell 20 million euros in the foreign exchange market today. C)Buy a three month forward contract on 20 million euros today. D)None of the above.ii) Find the company's profit/loss (in Canadian dollars) from their forward contract at expiration. Round intermediate steps to four decimals and your final answer to two decimals. Do not use currency symbols or words when entering your response.Please assist . Many thanks in advance .