Roger Federer Co (RF) and Serena Williams Co. (SW) both import materials from Germany for their production. Total import values of the two companies are very similar. SW then sells its end products to the US consumers. RF also sells its end product in the US markets. However, RF can also export its products to several European countries. Which company has larger transaction exposure? ORF the firms have about the same level of exposure. SW neither firm has any exposure. Two parties agree to a currency forward contract for 1 million at $1.07 per euro. At contract expiration, the euros trade at $1.05 per euro. In a cash-settlement forward contract, the: long pays the short $0.02 million. long pays the short $1.07 million. short pays the long $1.05 million. shorts pays the long $0.02 million. long pays the short $1.05 million