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ConocoPhillips Company has purchased currency put options to hedge a 900,000 Brazilian Real receivable. The premium is $0.025 (per unit of Brazilian Real) and

ConocoPhillips Company has purchased currency put options to hedge a 900,000 Brazilian Real receivable. The

ConocoPhillips Company has purchased currency put options to hedge a 900,000 Brazilian Real receivable. The premium is $0.025 (per unit of Brazilian Real) and the exercise price of the option is $0.20 per Brazilian Real. If the spot rate at the time of maturity is $0.17 per Brazilian Real, what is the total amount of dollars received (after accounting for the premium paid)? (2 Points) ANS:

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