Question 7 (1 point) Your firm, which is based in the U.S., has a 10,000 payable due in 1 year. You are considering hedging against FX risk by purchasing a call option with an exercise price of $1.05/ and a premium of $0.03/. The current one-year forward rate is 0.94/$, and the one-year US interest rate is 1.5%. If the forward rate is best predictor of the future spot rate, then the expected future dollar cost of the payable is: $10,638 $10,804.50 $10,938 $10,962 $10,500