ENCORE INC will need 200,000 Canadian dollars (CAD) in 90 days to cover a payable position. Currently, a 90-day call option with an exercise price of $0.75 and a premium of $0.01 is available. Also, a 90-day put option with an exercise price of $0.73 and a premium of $0.01 is available. FAB plans to purchase options to hedge its payable position. Assuming that the spot rate in 90 days is $0.77, what is the net amount paid for the payable, assuming ENCORE's wishes to minimize its cost? $154,000 $148,000. $150.000 $152.000