Please include in your analysis and $/$ or presentations any aspect of the case$-$study that relates to financial decision making and effective solution$/$s for issues raised in the case study. In other words, please take the initiative to go beyond the above questions if necessary. Notes: a$.$ Unhedged cashflow: This is the cash flow the firm is trying to hedge to minimize currency risk. Unhedged cashflow $=[$Actual cashflow $$ Predicted cashflow$]$ where Predicted cashflow $=$ Unit shipments x Price Example: February $1991,$ Actual cashflow $=$ $ $3,743,262,$ and Predicted cashflow $=15,760$ units x $($$ $215/$ unit$)$ So$,$ Unhedged cashflow $=$ $ $3,743,262-$ $ $3,388,400=$ $ $354,862.$ b$.$ Derivative Cashflow is Revenue from Currency hedging Example: February $1991,$ Derivative cashflow $=($$$330,059)$ or $-$ $ $330,059$ c$.$ Hedged Cashflow $=$ Unhedged cashflow $+$ Derivative cashflow Example: February $1991,$ Hedged cashflow $=$ $ $354,862+(-$ $ $330,059)=$ $ $24,803.$ Two ways to evaluate hedging i$)$ Correlation $[$ a$.,$ b$.]$ should be negative i$.$e$.,$ Correlation $[$Unhedged cashflow, Derivative cashflow$]$ should be negative ii$)$ Variance $[$ a$.]>$ Variance $[$ c$.],$ i$.$e$.,$ Variance $[$Unhedged cashflow$]>$ Variance $[$Hedged cashflow$]$ Implement these using Excel for the Currency futures hedging program, Currency Options hedging program, and the Overall hedging program for Link Technologies. This analysis should help the team provide a good answer to the first question! For the second question, focus on ideas such as should Mr$.$ Lee be treating risk management as profit center, and control versus decentralization, as indicators of the impact of corporate culture on implementation of the derivatives program. Responses to questions three and four should emerge out of discussions within teams.