1) You purchase a put option on Swiss francs for a premium of $0.04, with an exercise price of $1.87. The option will not be exercised until the expiration date, if at all. If the spot rate on the expiration date is $1.76, your payoff per unit is?

2) You purchase a put option on Canadian dollars for a premium of $0.03, with an exercise price of $1.58. The option will not be exercised until the expiration date, if at all. If the spot rate on the expiration date is $1.71, your payoff per unit is?