11. Tom trades currencies for Aston Funds in Singapore. He focuses nearly all of her time and attention on the U.S. dollar/Singapore dollar (S/S) cross-rate. The current spot rate is $0.650/S$. After considerable study, He has concluded that the Singapore dollar will appreciate versus the U.S. dollar in the coming 90 days, probably to about $0.750/SS. She has the following options on the Singapore dollar to choose from: Option Strike Price Premium Put on Sing $ $0.700/SS $0.00003/SS Call on Sing S0.700/S$ $0.00046/SS Business Administration Program Final Assessment Semester Fall 2020 a) Should Tom buy a put on Singapore dollars or a call on Singapore dollars? b) What is Tom breakeven price on the option purchased in part (a)? c) Using your answer from part (a), what is Tom gross profit and net profit (including premium) if the spot rate at the end of 90 days is indeed $0.780/SS