1. An Australian corporation has purchased currency call options to hedge a 60,000 euro (EUR) payable. The premium is $0.05 and the exercise price of the option is $1.40. If the spot rate at the time of maturity is $1.45, what is the total amount paid by the corporation if it acts rationally?

   		$90,000
   		$67,000
   		$84,000
   		$87,000