Panthers Corp., a U.S. importer of wine, placed an order with an Italian wine producer for 1,000,000 bottles, at a price

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Panthers Corp., a U.S. importer of wine, placed an order with an
Italian wine producer for 1,000,000 bottles, at a price of Euro 15
per bottle. Relevant exchange rates are:
Date
Spot Rate
Forward Rate (to January 31, 2022)
Call Option Premium for January 31, 2022 (strike price
$1.119)
1-Nov-21
$
1.119
$
1.125
0.005
31-Dec-21
1.123
1.130
0.007
31-Jan-22
1.121
1.121
0.002
Panthers has an incremental borrowing rate of 12 percent (1
percent per month) and prepares the financial statements on
December 31.
Required: