Ginseng Corp is a US manufacturer of auto parts with branch operations in France. On January $1,2023,$ Ginseng wishes to use a foreign currency option to hedge a $20,000,000$ Swiss franc denominated accounts payable that is due in two years. Jordan wishes to use fair value hedge accounting. Over the subsequent $4$ quarters the following are the changes in the fair value of the accounts payable and the fair value of the foreign currency option hedge.

Quarter ended March $31,2023$: Swiss franc payable increases by $$400,000$

Option hedge declines by $$350,000$

Quarter ended June $30,2023$: Swiss franc payable decreases by $$500,000$

Option hedge increases by $$400,000$

Quarter ended Sept. $30,2023$: Swiss franc payable decreases by $$800,000$

Option hedge increases by $$700,000$

Quarter ended Dec. $31,2023$: Swiss franc payable increases by $$200,000$

Option hedge decreases by $$100,000$

Answer the following

A $.$ Structure the appropriate fair value hedge using an FX option. Your answer must state whether Jordan is purchasing or selling an option, what is the expiration date of the option as well as whether it is an option to purchase swiss francs and sell US dollars or an option to purchase US dollars and sell swiss francs.

B$.$Identify by codification reference, e$.$g$.,$ xxx$-$xx$-$xx$-$xx$,$ and attach AND HIGHLIGHT the appropriate section$($s$)$ of the FASB codification that describe the alternate criteria that can be used to determine at December $31,2023$ whether or not this has been an effective fair value hedge.

C$.$ Using one of the alternate criteria in your answer to #$2$ above, state your conclusion as to whether this is an effective hedge, meeting the FASB criteria. You must include a computation to support your conclusion.