Canadian dollar call options are available with an exercise price of $0.91 and a premium of $0.02. Also, Canadian dollar put options are available with an exercise price of $0.88 and a premium of $0.02. Andrea is an option speculator. She anticipates the Canadian dollar to depreciate from its current level of $0.90 to $0.85.

If the future spot rate of the Canadian dollar is $0.85, Andrea's profit or loss is _____ , and she _____ exercise the option.