x) Ford America has exported cars to Switzerland to the tune of ten million Swiss francs (CHF10,000,000). This amount is expected to be received in 90 days by Ford America. Ford America believes the 90-day forward rate is an accurate forecast of the future spot rate. The 90-day forward rate of the Swiss franc is $0.98. A put option is available with a strike price of $0.99 and a premium of $0.03. As a financial manager of Ford America, analyse how much Ford America is expected to receive as net sales from this export in US dollars.