Due to your import of wine from France, you have an account payable in three months. You desire to hedge this account using the options market. The following info. Calculate the outcome of this option if you end up executing it at the end of the three months.

? Today's date = March 1, 2020

? Spot rate on the above date = $1.1450/euro

? Account payable amount = euro 48,000.00

? Commercial interest rate on US dollar = 6 percent

? The calls and puts premiums in the table below are in percent.