The following exhibit illustrates the distribution of expected not cash flows of an individual firm before (gray line) and after hedging (blue line). (= not cash flow, ye expected valus) A) Does the hedging add value to this firm? Explain B) Does hedging reduce the risk for this film? Explain 00+ 046 0=073 04 03 02 0 For the toolbar press ALT:10 (PO) or ALTEN. 10 (Mac) B 15 Paragraph Arial 1001 11: TIL A IN T. O