Question 12 (3 points) Daltrey Company purchased recording equipment from The Detours Inc. for $250,000 on September 21, 2019. Payment is due to The Detours, Inc. on December 19, 2019. Additionally, on September 21, Daltrey entered into a 90-day forward contract to purchase E250,000 at a rate of f1 = $1.23. The forward contract was entered into to manage the exposed net liability position in UK Pounds, but it was not designated as a hedge. The spot rates were 09/21/19 E1 = $1 24 12/19/19 21 = $1.21 Looking back on the entire situation (Le., the original transaction and the forward contract) in terms of the USS needed to settle both transactions, did entering into the forward contract work out well for Daltrey Company? (A) No. Without the forward contract, the company would have been able to pay fewer USS to acquire the pounds on the settlement date (B) No. Without the forward contract, the company would have received more USS when selling the pounds on the settlement date. (C) Yes. Without the forward contract, the company would have received fewer USS when selling the pounds on the settlement date. (D) Yes. Without the forward contract, the company would have had to pay more USS to acquire the pounds on the settlement date