The US firm, Cray Research sold a supercomputer to the MaxPlanck Institute in Germany on credit and invoiced €12.8millionpayable in six months. Currently, the six-month forward exchangerate is $1.24 = 1€. a. Is Cray worried about the euro appreciatingor depreciating? Explain b. What will be the future value in euroif Cray hedges 100% with a forward hedge? c. If in six months, thespot rate turns out to be $1.19 = 1€, would Cray be happy that ithad used the forward hedge? d. How much better (or worse) off wouldCray have been without the hedge? D