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Assume that a speculator purchases a European style call option on British pounds for $0.0575 per unit. The strike rate is 1.2782. A pound option

Assume that a speculator purchases a European style call option on British pounds for $0.0575 per unit. The strike rate is 1.2782. A pound option represents 125,000 units. Assume that at the time of the purchase, the spot rate of the euro is $1.1734 and changes to $1.1739 by the expiration date. The net profit for the speculator based on the information above is:

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