The U.S.-based Minnesota Mining Company (MMC) has a one-year account payable from a German manufacturing company worth Euro 1,000,000. The current spot rate is $1.3600/, and MMC has a weighted average cost of capital of 12% per annum. Suppose twelve month call and put options on Euros are available. Each has an exercise price (X) of $1.3000/ and a premium of 1%. MMC decides to execute an option market hedge. A. What is MMCs net US dollar cost of the Euro 1,000,000 payable in 12-months if at expiration the spot rate is $1.3200/? B. What is MMCs net US dollar cost of the Euro 1,000,000 payable in 12-months if at expiration the spot rate is $1.2200/?