Question 18 3 pts Which of the following statements make the best argument for why firms should NOT hedge exchange rate risks? Exchange rate risk is irrelevant because many multinational companies are similarly affected by exchange rate movements. Exchange rate risk is irrelevant because stakeholders do not care about the financial distress risk that adverse effects of exchange rate movements may cause. O Exchange rate risk is irrelevant because investors can hedge exchange rate risk on their own. Exchange rate risk is irrelevant for multinational companies (MNCs) because an MNC generates cash flows in numerous currencies. The exchange rate movements of many currencies can easily, exactly offset each other. Exchange rate risk is irrelevant because it is extremely difficult to hedge exchange risks profitably