Assume that a speculator purchases a European style put option on euros for $0.0528 per unit. The strike rate is 1.1206. A euro option represents 125,000 units. Assume that at the time of the purchase, the spot rate of the euro is $1.1723 and changes to $1.1527 by the expiration date. The net profit for the speculator based on the information above is: Answer format: round to two decimals. $1.12