An investor bought put option on British pounds at an exercise price of $1.50 per unit and paid a premium of $0.05 per unit. The spot rate for British pound at the time of buying this put option on British pound was $1.51 and this rate will keep rising to $1.62 by the expiration. If this option has 31,250 units, calculate the highest profit/loss for this speculator. (Think carefully!!)

Group of answer choices

-$625.00

$1,250.00

-$1,562.50

$1,562.50

-$1,250.00