Calandra Panagakos works for CIBC Currency Funds in Toronto. Calandra is something of a contrarian - as opposed to most of the forcuasts, she believes the Canadian dollar (CS) will appreciate versus the U.S. dollar over the coming 90 days. The current spot rate is CS/S=0.6750. Calandra may choose between the following options on the Canadian dollar: a. Should Calandra buy a put on Canadian dollars or a call on Canadian dollars? b. What is Calandra's breakeven price on the option purchased in part (a)? c. Using your answer from part (a), what is Calandra's gross profit and net profit (including premium) if the spot rate at the end of 90 days is indeed 50.7600? d. Using your answer from part (a), what is Calandra's gross profit and net profit (including premium) if the spot nite at the cod of 90 days is 50.8250 ? \begin{tabular}{r} Put option \\ \hline$0.7000 \\ 50.0003 \end{tabular} a) Which option should Calandra bay? b) What is Calandra's breakeven price on the option purchased in part a)? c) What is Calandra's gross profit and net profit (induding premium) if the ending spot rate is Cs/s-0.7600? d) What is Calandra's gross profit and net proft (including premium) if the endiag spot rate isCS/USS-0.8250