Question 20 Assume that Alpha Inc. expects to need payables) Japanese Yen 2 million in one you. The wing sport of the Ye WW. The of the Japanese Yeni Yen 0.62. Alpha Inc. Created a probability darbuon for the report one you loom Future Spot Race Probability $.81 20% .64 30 .67 50 Assume that one-year call options on Japanese Yen are available with an exercise price of 5.64 and a premium of $.03 perunt. Assume the following money U.S. Japan Deposit Borrowing rate 8% 5% Required (show your working): a. Determine the cost in $ Alpha Inc. use forward hedge, to hedge payables b. Determine the cost in Sif Alpha Inc. use money market hedge, lo hedge payables c. Determine the expected cost in $ if Alpha Induse call options to hedge payables d. Determine the expected cost in $ if there is no hedge e. Determine which of the above hedge is most appropriate