A speculator expects the Canadian dollar to reach $1.0700 in June next year. If the following two options contracts are available today for June: --- a call option with a strike price of $1.0500/C$ with a premium of $0.0192/C$ a put option with a strike price of $1.0650/C$ with a premium of $0.0146/C$ (a) Which one should he buy if he's a rational investor? Why? (b) If the spot rate at the time the C$ option expires was $1.0450/C$. Should he exercise the option? Why? What would be his net profit or loss per Canadian dollar? (c) If the spot rate at the expiration was $1.0700/C$. Should he exercise the option? Why? What would be his net profit or loss per Canadian dollar? (d) What is the break even spot rate to get zero profit