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A firm has a payable of C $ 1 , 5 0 0 , 0 0 0 . 0 0 . They hegdge this exposure

A firm has a payable of C$1,500,000.00. They hegdge this exposure with a call option with a strike price of $1.9500C$. The premium of the option is $0.1365. What is the firm's maximum total cost?
(a) $3,129,750
(b) $3,100,500
(c) $2,925,000
(d) $2,720,250
(e) None of the above
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