Supposes European firm has and in the United States with local price is random Anime there are only three states of the world and each state is equal to cut the future local care price of this American set (P) s well as the future exchange rate (S) will be determined depending on the realized state of the world SxP State of the World Probability p(Price S of the (Exchange asset in $) Rate) (Price of the asset in EUR) 1 1/3 $1,500 $1.20/EUR 2 1/3 $1,625 $1.30/EUR 3 1/3 $1,875 $1.50/EUR a) Calculate the price of this aset in EUR for each state of the wodd (SxP" (4 Points) b) Argue whether the price of the asset in S is negatively correlated, poritively correlated or not correlated at all with the exchange rate What is the beta coefficient in this case (3 Points) Determine the hedging strategy of the European firm in this case (3 Points)