gendy co. expects to receive eur 5 million tomorrow as a result of selling goods to a firm in france. gendy estimates the standard deviation of daily percentage changes of the euro to be 1 percent over the last 100 days. assume that these percentage changes are normally distributed. use the value-at-risk (var) method based on a 95% confidence level what is the maximum one-day loss if the expected percentage change of the euro tomorrow is 0.5%? (With the normal distribution, 95 percent of observations are smaller than 1.65 standard deviations above the mean.) Select one: a. -1.2% Ob. -1.5% C.-0.5% d.-2296