1. Adam buys a put option on British pounds (contract size is 500,000) at a premium of S0.05/. The strike price is $1.20/. (a) Graph the profit/loss on the option contract. (b) What is the break-even price? (a) At what range of spot prices does John make profit? 2. Bank of America buys a call option on euros (contract size is 625,000) at a premium of $0.02 per euro. If the exercise price is $0.98 and the spot price of the euro at date of expiration is $0.95, what is Bank of America's profit (loss) on the call option