6. Currency Put Hedge on Receivables. As treasurer of Tucson Corp. (a U.S. exporter to New Zealand), you must decide how to hedge (if at all) future receivables of 250,000 New Zealand dollars 120 days from now. Put options are available for a premium of $.03 per unit and an exercise price of $.41 per New Zealand dollar. The forecasted spot rate of the NZ$ in 120 days follows: Future Spot Rate $.43 $.40 $.38 Probability 30% 50% 20% a. What is the probability that the put option will be exercised if you purchased it (10 points)? b. How much is the estimated profit of the currency put hedge (10 points)