Explain the nature of the exchange-rate risk for each of the following, from the perpective of the US firm or person. In your answer, include whether each is a long or short position in foreign currency. (1) An American college student receives a birthday gift of Japanese government bonds worth 10 million yen, and the bonds mature in the 60 days. (2)A US firm must repay a yen loan, principal plus interest totaling 100 million yen, coming due in 60 days.