4. (6 points) Suppose you can purchase options on the British pound, and you are interested in contracts that mature in October. Suppose you can purchase British pound options with a strike price of 131 (=131 US cents per 1 GBP or $1.31/GBP). Assume on the date you take your position, the call premium is 3.2 (3.2 US cents per 1 GBP), the put premium is 2.6 cents per 1 GBP. What position would you take in this option as a buyer if you believed the British pound was going to depreciate over the next month? Graph your profit/loss profile on this option, and identify your break-even point.