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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

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?

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