a u.s. corporation has purchased currency call options to hedge a 70,000 pound payable. the premium is $0.02 and the exercise price of the option is $0.60. if the spot rate at the time of maturity is $0.65, what is the total amount paid by the corporations if it acts rationally?

a) $43400

b) $21400

c) $54400

d) $32400