Assume that Jim is a speculator who buys a British pound call option of 31,250 units with a strike price of $1.40 and a December settlement date. The current spot price as of that date is about $1.39. Jim pays a premium of $.012 per unit for the call option. Assume there are no brokerage fees. Just before the expiration date, the spot rate of the British pound became $1.38. Assume that the contract will be excused, then calculate the net profit or loss for Jim and Linda.