Bilateral Netting Can Reduce the Number of Foreign Exchange Transactions $\frac { N ! ( N - 1 ) ! } { 2 }$

Bilateral netting can reduce the number of foreign exchange transactions among a MNC with N affiliates to

A) $\frac { N ! ( N - 1 ) ! } { 2 }$ or less
B) $\frac { N ! } { ( N - 1 ) ! }$ or less
C) $\frac { N \times ( N - 1 ) } { 2 }$ or less
D) None of the above