A put option contract on British pounds specifies the following information. Put option premium on British pound () = $.04 per unit. Strike price = $1.40. (right to sell at $1.40) One option contract represents 31,250. This is a European Option On the expiry, if spot price for is 1.45, what will be the profit/Loss of the option seller? $1,562 ($1,562) ($1,875) $1,875