QUESTION 3 20 points Save Answer On November 1, Y1, Black Lion Company forecasts the purchase of raw materials from an Argentinian supplier on February 1, Y2, at a price of 200,000 Argentinian pesos. On November 1, Y1, Black Lion pays $1,100 for a three-month call option on 200,000 pesos with a strike price of $0.34 per peso. The option is properly documented as a cash flow hedge. On December 31, Y1, the option has a fair value of $800. The following spot exchange rates apply: USD per Date Argentian Peso November 1, Y1 0.34 December 31, Y1 0.30 February 1, Y2 0.35 These raw materials are consumed in Y2 after purchase and become part of COGS. What time of hedge is this, considering the date on which Budvar entered into the hedge? Answer choices include "hedge of a recognized foreign- currency denominated-asset/liability", "hedge of an unrecognized foreign currency firm commitment", or "hedge of a forecasted foreign-currency-denomi nated transaction". Please copy and paste the correct answer into the blank (no apostrophes). For the following questions, round your answer to the nearest whole dollar. Do not use a dollar sign in your answer. What is the impact on net income for Y1? What is the impact on net income for Y2? What is the impact on SHE for Y1? What is the cumulative impact on SHE for Y1 and Y2?