3a) Assume a put option on Euro (c) is written with a strike price of USD1.1200/c, a premium payment of USD 0.0300/c with an expiration date 3 months from now. One contract size of Euro is 662,500 units. i) If a dealer holds five (5) option contracts, calculate his net profit when the Euro is traded at USD1.0150/c. (2 marks) ii) Determine whether the dealer should exercise the option or not if the Euro is traded at USD1.1150