You are a US company which makes phone accessories. Recently you decided to expand the company internationally and you are going to start first in the European Union (EU). You will both produce some products there and also sell some products our forecast for next year is below. In the forecast, any item marked as an EU item is actually the US dollar equivalent of Euro which has been translated at the EUR forward rate. Forward EUR fx rate: 1.13 (all numbers expressed as $USD '000) Revenues US revenues $25,000 EU revenues $5,000 Costs US Corporate costs ($1,000) US Research & development ($500) EU startup costs. ($20,000) US salaries ($2,000) EU salaries ($5,000) If you hedge 100% of your exposure with options then what is your hedged exposure gain or loss relative to your original forecast if the actual exchange rate in a year is 1.20? Don't include any cost (premium) for buying the option in your answer. O ($150) loss ($1,239) loss $1,239 gain O $0