Need a help to make sure I solved this right. Thanks in Advance

1. A U.S. based MNC has contracted to sell 50 million electronic chips to a British firm for f22 each. The chips are to be delivered and paid for in 4 months. The current exchange rate between the f and the $ is $1.00 equals $1.2015. At today's exchange rate how much will the firm be paid for the chips in dollars? 2. Consider the information provided in \#1 above. In three months, when the chips are delivered and paid for, the exchange rate is f1.00 equals $1.1936. How many dollars will the U.S. firm receive for the chips? 3. Consider the information provided in #1 and #2 above. Carefully explain how the U.S. firm could use (1) a forward contract for foreign exchange, (2) a futures contract for foreign exchange, and (3) an option contract for foreign exchange to hedge their position to protect their profits for this transaction