Cakulate the expected cash flows $($and standard deviation, where appropriate$)$ for al hedging possbifities. Youneed ta identify the best possive hedging technique. One the thind exam, this qustion is worth $30$ points. You will receive $4$ points for each correct calculation $164-24)$ and &naints for the carrect identification of the most approprlate hedging technique.

Compary Y has parables of $235\mathrm{.}678$ PLN in $3$ months. The spot PLNUSD is $0\mathrm{.}2754.$ Farecast indicates that the PLN could either end up with a value of $50\mathrm{.}2755118\%$ chancel. a value of $$02765135\%$ dance$)$ or a value of $50\mathrm{.}2799(47\%$ thancel. The US interest rates are: deposit $4\mathrm{.}04\%$ and borrowing $4\mathrm{.}05\%$ and the Polish rates are: deposit $3\mathrm{.}29\%$ and borrowing $3\mathrm{.}31\%\mathrm{.}3$ month forwands on the PLN are priced for $$0\mathrm{.}2761.$ Put options with $3$ months expiration and strike price of $$0\mathrm{.}269$ are wailable for a premium of USO $50,0021$ and call options with $3$ months expration and strike price of $50\mathrm{.}2757$ are available for a premum of U$5$D $$0\mathrm{.}0018.$

In your arrower below, yau could provide a $41$ table $($see top right comer of text boe$)$ and enser your answer choices the folowing way:

$\backslash$table$[[,$Expected CF$,50],[$Non Hedping,answer,answer$],[$Fonward$,$arowuer,$],[$Money Mabbet,answer,$-],[$Option$,$arriser,arower$]]$