23A U.S. corporation has purchased currency put options to hedge a 100,000 Canadian dollar (C$) receivable in 6 months. The premium is $.01 and the exercise price of the option is $.75. If the spot rate at maturity is $.85, what is the net amount received by the corporation if it acts rationally?

$74,000 b. $84,000 c. $75,000 d. $85,000

I know the answer is B, I just want to know the formula and steps to get there.