Currency call options were purchased by a U.S. MNC to hedge a 75,000 pound () payable. The premium is $0.02 and the exercise price of the option is $0.72. If the spot rate at the time of maturity is $0.76, what is the total amount paid by the corporation if it takes a rational action?

Select one:

a.

$57,000

b.

$55,500

c.

$52,500

d.

$58,500