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3. MIAMI CORP. Corporation will be receiving 300,000 Canadian dollars (C$) in 90 days. Currently, a 90-day call option with an exercise price of $0.75

3. MIAMI CORP. Corporation will be receiving 300,000 Canadian dollars (C$) in 90 days. Currently, a 90-day call option with an exercise price of $0.75 and a premium of $0.01 is available. Also, a 90-day put option with an exercise price of $0.73 and a premium of $0.01 is available. MIAMI CORP. plans to purchase options to hedge its receivable position. Assuming that the spot rate in 90 days is $0.71, calculate what is the net amount received from the currency option hedge?

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