Cachita Haynes works as a currency speculator for Valtic Capital of Los Angeles. Her latest speculative position is to profit from her expectation that the U.S. dollar will rise significantly against the Japanese Yen. The currency spot rate is 120 Yen / $. She must choose between the following 90-day options on the Japanese Yen.

A. Assuming Cachita should buy a put on Yen to profit from the rise of the dollar (the fall of the yen), what is Cachita's breakeven price on the option purchased in part (a) assuming she buys a contract size of 1,000,000 Yen?

Enter this exchange rate as Yen/$ and round to two decimal places.

\begin{tabular}{lll} \multicolumn{1}{c}{ Option } & \multicolumn{1}{r}{ Strike Price } & Premium \\ \hline Put on yen & =/$126 & $/=0.00003 \\ Call on yen & =/$126 & $/=0.00046 \end{tabular}