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Today is March 29th and Rivian just entered a contract to deliver EUR 25 million worth of electric vehicles to a French shipping company with

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Today is March 29th and Rivian just entered a contract to deliver EUR 25 million worth of electric vehicles to a French shipping company with payment at the end of June. Rivian wants to hedge its EUR exposure using EUR spot and futures contracts. Suppose that the spot and futures USD/EUR exchange rates on March 29th are: USD/EUR Bid Ask 1.183 1.202 1.216 1.191 Spot April EUR Futures May EUR Futures June EUR Futures 1.205 1.220 1.217 1.228 The size of each EUR futures contract is EUR 125,000. If Rivian plans to hedge its EUR exposure using June futures contracts, how much does it expect to get in USD after it receives the payment from the French shipping company? O US 25 million O US 29.575 million O US 30.050 million US 30.425 million O US 30.700 million

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