An investor is bearish on the euro and believes it will decrease against the Japanese Yen. The investor purchases a currency put option on the euro with a strike price (exchange rate) of 135/. When the investor purchases the contract, the spot rate of the euro is equivalent to 132/. the premium is 4/ a)

-Assume the euro's spot price at the expiration date (market price) is 123/ The investor's profit = /

-Assume the euro's spot price at the expiration date (market price) is 138/ The investor's profit = /

-What is the maximum loss Maximum loss = / d) What the maximum profit Maximum profit = /