A small American company wishes to hedge its anticipated income from sales in Australian dollars. It buys 2 option put contracts (each worth 10,000 Australian dollars) to sell the Australian dollar at a rate of $0.75 per AUD in 2 months. The premium to purchase the put is 2 cents ($0.02).

How much will the company receive in U.S. dollars if it exercises the options contracts?

THE ANSWER IS 15,000 BUT PLEASE SOMEONE EXPLAIN HOW