Question 10 A Japanese exporter has a 1,000,000 receivable due in one year. Detail a strategy using a money market hedge that will eliminate any exchange rate risk. 1-year rates of interest Borrowing Lending Dollar 4.5 % 4.00 % Euro 6.00 % 5.25 % Yen 1.00 % 0.75 % Spot exchange rates 1-year Forward Rates $1.25 = 1.00 $1.2262=1.00 $1.00 = \ 100 $1.03 = 100 Borrow 970,873.79 today. Convert the euro to dollars at the spot exchange rate, receive $1,165,048.54. Convert these dollars to yen at the spot rate, receive . Borrow 943,396.22 today. Convert the euro to dollars at the spot exchange rate, convert these dollars to yen at the spot rate, receive 117,924,528.30 O None of the others 0 Convert 117,924,528.30 to dollars at the spot rate; convert dollars to euro at the spot rate; lend 943,396.22 at 5.25 percent. Lend 943,396.22 today. Convert the euro to dollars at the spot exchange rate, convert these dollars to yen at the spot rate