Q.1 Interest rate parity (20pts)a) Prove the general expression for interest rate parity;b) How could the exchange rate risk be hedged for an importer's debt of 4.14 million euros payable in 90 days knowing the following information:-Spot exchange rate is $1.12/;- 90-day forward exchange rate: $1.11/;-U.S. interest rate 90 days: 6.06% p.a.;- 90-day euro interest rate: 13.7% p.a.Do the math to show which strategy costs the most.