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Eric is purchasing a put option to hedge his transaction exposure. It has an underlying asset of MXN 205,773, a strike price of USD 0.050

Eric is purchasing a put option to hedge his transaction exposure. It has an underlying asset of MXN 205,773, a strike price of USD 0.050 per MXN. What is his payoff on this option if at maturity the spot rate is USD 0.056 per MXN, and the present value of the option premium is USD 2,694? Please give your answer to the nearest US dollar.

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