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The problems are based on 15cd 10.7 Kirytal. Kryztal in a U. 5.-baved compory that manutactureh, sellic, and iratille water paritication equipment, On April 11, the conpany sold a wystrin to the Cify of Nugasak, Japun for installation in Nagasald's fameus Clover Gasdens (where Pucoini s Madame Datterfly waited for the return of L. Pinkertonl. The sale was priond in yea at v20,000,000, with payenert due in thure inonthe. Note that the intereat rate differentials vary shightly from the forward diccounts on the yen because of time differences for the quotes. The epot n118. 255/5, for eumple, is a mid-point range. On Apral 11, the ipot yen traded in London from Y 118.30/5 to 117.550/5. Aquatech's Japanese competitots are currently berrowing yen from Japanese banks at a spread of two percentage points above the Japenese money rate. Kryntal's weighted average coat of capital is 16N, and the cempany withes to protect the dollar value of this receivable. 3-month options are avalable trom Kyushu Bank call option on 7z0.000.000 at eorrase, price of 7118.00/5 : a 15 premium; or a pot option on 720.000,000, at exercise price ef v116.00/5: a 3% premium. a. What are the conts and benefits of altemative hedees? Which woold you tecommend, and why? b. What is the break-even reinvestenent cate when comparing forward and monev market altematives? The problems are based on 15cd 10.7 Kirytal. Kryztal in a U. 5.-baved compory that manutactureh, sellic, and iratille water paritication equipment, On April 11, the conpany sold a wystrin to the Cify of Nugasak, Japun for installation in Nagasald's fameus Clover Gasdens (where Pucoini s Madame Datterfly waited for the return of L. Pinkertonl. The sale was priond in yea at v20,000,000, with payenert due in thure inonthe. Note that the intereat rate differentials vary shightly from the forward diccounts on the yen because of time differences for the quotes. The epot n118. 255/5, for eumple, is a mid-point range. On Apral 11, the ipot yen traded in London from Y 118.30/5 to 117.550/5. Aquatech's Japanese competitots are currently berrowing yen from Japanese banks at a spread of two percentage points above the Japenese money rate. Kryntal's weighted average coat of capital is 16N, and the cempany withes to protect the dollar value of this receivable. 3-month options are avalable trom Kyushu Bank call option on 7z0.000.000 at eorrase, price of 7118.00/5 : a 15 premium; or a pot option on 720.000,000, at exercise price ef v116.00/5: a 3% premium. a. What are the conts and benefits of altemative hedees? Which woold you tecommend, and why? b. What is the break-even reinvestenent cate when comparing forward and monev market altematives