Answer part "D" only please :)

the text is included for context

(d) List the correct sequence involved and all required documents in the export of beer from San Antonio, Texas, to Agave Importers in Venezuela, using a confirmed and guaranteed Letter of Credit. Lancimmsal The San Antonio Pearl Brewery Co. Pearl Brewery of San Antonio, Texas, has received an order for 10,000 cases of Pearl Beer from Agave Importers in Caracas, Venezuela. El Presidente Maduro is furious! "Beer from the North"!?...How could they! Payment to be in Bolivars Fuerte (VEF). The beer will be shipped to Agave under the terms of a Letter of Credit issued by the Bank of Venezuela on behalf of Agave for the benefit of Pearl Brewery (Advising Bank is Wells Fargo Bank). The letter of credit specifies that the face value of the shipment, VEF 943,931 (Venezuelan Bolivars Fuerte VEF), will be paid according to the following terms after the Bank of Venezuela accepts a time draft drawn in accordance with the terms of the letter of credit. Terms: 50% Down-payment at the Spot Rate 50% in 180 Days. The current discount rate in London on 180-day banker's acceptances is 8% per annum, and Pearl's weighted average cost of capital is 12% per annum. The commission for selling a banker's acceptance in the discount market is 3% of the face amount. (a) Would the Pearl Brewery Company gain by holding the acceptance to maturity as compared to discounting the banker's acceptance at once? (b) Does Pearl incur any other risks in this transaction? How might they manage these risks given the information below? (c) Assume that Venezuela charges a duty of 55% on goods imported into Venezuela from the US. The Pearl Brewery Co. in the previous question discovers that it can brew beer in Valencia near Caracas in Venezuela and bypass this 55% value added tax. List all the factors that the Pearl Brewery Co. should consider when deciding to continue to export beer from San Antonio versus brewing beer in Valencia near Caracas. Despite this added 55% surcharge when exporting to Venezuela, suppose that the Valencia facility could produce the following free cash flows in millions of VEF's: Year: 0 1 2 3 4 5 -8.5 1.5 3.5 3.0 2.0 5.5 Cash Flows: The nominal interest rate in the US is 4% (30-year T-Bond) while the rate in Venezuela is 10% (30-year Sovereign). The current Spot Rate is: VEF 6.29287/$ as of 6/28/2015. The 180-day Forward Rate is: $ 0.15700/1 VEF. Venezuelan lending rates are 6%. The 180 day strike price for the Put Option to sell the VEF is: $0.15695/VEF with a 0.4 cent premium per VEF. Does this make sense to produce this fine beer in Valencia? Justify your response! (d) List the correct sequence involved and all required documents in the export of beer from San Antonio, Texas, to Agave Importers in Venezuela, using a confirmed and guaranteed Letter of Credit. Lancimmsal The San Antonio Pearl Brewery Co. Pearl Brewery of San Antonio, Texas, has received an order for 10,000 cases of Pearl Beer from Agave Importers in Caracas, Venezuela. El Presidente Maduro is furious! "Beer from the North"!?...How could they! Payment to be in Bolivars Fuerte (VEF). The beer will be shipped to Agave under the terms of a Letter of Credit issued by the Bank of Venezuela on behalf of Agave for the benefit of Pearl Brewery (Advising Bank is Wells Fargo Bank). The letter of credit specifies that the face value of the shipment, VEF 943,931 (Venezuelan Bolivars Fuerte VEF), will be paid according to the following terms after the Bank of Venezuela accepts a time draft drawn in accordance with the terms of the letter of credit. Terms: 50% Down-payment at the Spot Rate 50% in 180 Days. The current discount rate in London on 180-day banker's acceptances is 8% per annum, and Pearl's weighted average cost of capital is 12% per annum. The commission for selling a banker's acceptance in the discount market is 3% of the face amount. (a) Would the Pearl Brewery Company gain by holding the acceptance to maturity as compared to discounting the banker's acceptance at once? (b) Does Pearl incur any other risks in this transaction? How might they manage these risks given the information below? (c) Assume that Venezuela charges a duty of 55% on goods imported into Venezuela from the US. The Pearl Brewery Co. in the previous question discovers that it can brew beer in Valencia near Caracas in Venezuela and bypass this 55% value added tax. List all the factors that the Pearl Brewery Co. should consider when deciding to continue to export beer from San Antonio versus brewing beer in Valencia near Caracas. Despite this added 55% surcharge when exporting to Venezuela, suppose that the Valencia facility could produce the following free cash flows in millions of VEF's: Year: 0 1 2 3 4 5 -8.5 1.5 3.5 3.0 2.0 5.5 Cash Flows: The nominal interest rate in the US is 4% (30-year T-Bond) while the rate in Venezuela is 10% (30-year Sovereign). The current Spot Rate is: VEF 6.29287/$ as of 6/28/2015. The 180-day Forward Rate is: $ 0.15700/1 VEF. Venezuelan lending rates are 6%. The 180 day strike price for the Put Option to sell the VEF is: $0.15695/VEF with a 0.4 cent premium per VEF. Does this make sense to produce this fine beer in Valencia? Justify your response