Please show work (formula)

Question 4. (15 points) A U.S. company orders merchandise from a Japanese company at a cost of 100 million yen. The merchandise must be paid for in yen . Exchange rates shown below.

	Yen per $1	$ per 1 yen
Spot	101.78	0.00983
30-day forward	99.45	0.01006
90-day forward	97.2	0.01029
180-day forward	95.14	0.01051

a. How many U.S. dollars must be raised if payment is due today?

b. Is the dollar appreciating or depreciating against the yen? Explain.

c. How many U.S. dollars must be raised if payment is due in 90 days?

d. Who bears exchange rate risk, the U.S. company or the Japanese company or both? Explain.

e. Describe 3 ways in which the company can reduce exchange rate risk.