20. You have purchased a currency put option on Euros representing a contracted amount of 100,000 euros. The exercise price for a Euro is $1.270 and the put option premium on the euro is .013 per unit. What would the exchange rate need to be for you to have a net profit of $0 (i.e. the breakeven exchange rate)

a. $1.283

b. $1.257

c. $1.270

d. $1.400