Since Obispo Inc. buys much of its inputs from Japan, it will have periodical cash flows to pay in yen every 3 months over the next 5 years. What is the best hedging alternative for Obispo if they believe the yen will appreciate over the next 5 years? Enter into a swap agreement to lock in the exchange rate for the next 5 years of payables in yen. Buy yen forward every 3 months Buy call options every 3 months. Buy put options every 3 months.