A firm has a receivable of 10,000 due in 3 months. A 3 month put option is available with the strike price $1.30 per euro. The option premium is $0.015. What is the minimum receipt in dollars if hedging is done with the put option? The interest rate in the US is 4 % per annum or 1% for a 3 month period. Round the answer to the nearest dollar and report it without the $ symbol.

------------------------------------------------------------------------------------------------------------

A firm has a receivable of 10,000 due in 3 months. A 3 month put option is available with the strike price $1.30 per euro. The option premium is $0.015. What is the net receipt in dollars if hedging is done with the put option and the spot price reaches $1.35 per euro at the end of 3 months? The interest rate in the US is 4 % per annum or 1% for a 3 month period. Round the answer to the nearest dollar and report it without the $ symbol.