Workers Supply Ltd (WS), a Singapore company, received a sales confirmation from Trump (US) that it had won a US$20,000,000 contract to supply 5 G telecommunication surveillance equipment and system. According to the contract, WS will have 90 days to supply and install the system. Upon delivery, testing and commissioning of the system at the end of the 90-day period, Trump (US) will make full payment 30 days later. During this period the company will account for the US$20,000,000 as an account receivable. DBS (Singapore) has offered WS the following quotes: Spot rate S$1.4481 1.4495 / US$ 1-month forward rate S$1.4486 1.4499 / US$ 4-month forward rate S$1.4491 1.4603 / US$ 1-month US$ deposit rate 2.5% per year 1-month US$ borrowing rate 4.5% per year 4-month US$ deposit rate 4.65% per year 4-month US$ borrowing rate 4.85% per year 1-month call option on US$ (S$1.4488/US$ strike) S$0.0015/US$ premium 4-month call option on US$ (S$1.4490/US$ strike) S$0.0025/US$ premium 1-month put option on US$ (S$1.4482/US$ strike) S$0.0030/US$ premium 4-month put option on US$ (S$1.4486/US$ strike) S$0.0045/US$ premium Companys weighted average cost of capital 9.5% per annum

Required: Recommend appropriate hedging strategies the company could adopt. Show your workings clearly.