A foreign currency is currently worth $0.64. A 1-year butterfly spread is set up using European call options with strike prices of $0.60, $0.65, and $0.70. The risk-free interest rates in the United States and the foreign country are 5% and 4% respectively, and the volatility of the exchange rate is 15%. Calculate the cost of setting up the butterfly spread position. Show that the cost is the same if European put options are used instead of European call options.