Alter Bridge Corporation will need 1,400,000 Canadian dollars (CAD) in 90 days to cover a payable position. Currently, a 90-day call option with an exercise price of $.78 and a premium of $.015 is available. Also, a 90-day put option with an exercise price of $.77 and a premium of $.012 is available. Alter Bridge Corporation plans to purchase options to hedge its payable position. Assuming that the spot rate in 90 days is $.73, what is the cost of satisfying this obligation as a result of this transaction?