$3.$ Josie Anderson is a currency speculator. She currently is anticipating that the British pound will

appreciate against the USD. The current spot rate is $$1\mathrm{.}3025/$ and Josie believes it will be at $$1\mathrm{.}35/$

in $90$ days. Put and call options with $90-$day maturity are available at a strike price of $$1\mathrm{.}32/$

and a premium of $$\mathrm{.}003/.$

a$.$ Should Josephine buy a put or a call option?

b$.$ If the spot rate is $$1\mathrm{.}35/$ in $90$ days what will be her net profit or loss per $?$

c$.$ If the spot rate is $$1\mathrm{.}30/$ in $90$ days what will be her net profit or loss per $?$