A small American company wishes to lock in an exchange rate in British pounds for purchases it will make in several months. It buys 3 option call contracts (each worth 10,000 GBP) to buy the pound at rate of $1.35 per GBP in a specified time in the future. The premium to purchase the call is 3 cents ($0.03) per GBP or $300 per 10,000 GBP contract. At what exchange rate is this option at the money? Group of answer choices

$0.741 per GBP

$1.38 per GBP

$1.35 per GBP

$0.725 per GBP