4. Based on the information in the table below, what is the proper financial hedging strategy with forwards? (10 points) State Probability P* S 1 1/3 900 $1.35/ 2 1/3 1,000 $1.50/ 3 1/3 1,100 $1.65/ We sell forward at the 1-year forward rate of a. $ net cash flow when the French assets is worth 900, and the exchange rate is $1.35/ (2 points) b. $ net cash flow when the French assets is worth 1,000, and the exchange rate is $1.50/ (2 points) c. $ net cash flow when the French assets is worth 1,100, and the exchange rate is $1.65/ (2 points)