1. Suppose that the premium on March 20 on a June 20 Japanese yen put option is 0.0514 cents per yen at a strike price of US$0.0077. The forward rate for June 20 is ¥1 = $0.00787 and the quarterly U.S. interest rate is 2%. If put-call parity holds, what is the current price of a June 20 yen call option with an exercise price of

$0.0077?