Farmer Donald decides to hedge 10,000 bushels of corn by purchasing put options with a strike price of $1.80. Six-month interest rates are 4.0% and the total premium on all puts is $1,200. If his total costs are $1.65 per bushel, what is his marginal change in profits if the spot price of corn drops from $1.80 to $1.75 by the time he sells his crop in 6 months?

a)$248 loss

b)$0

c)$252 gain

d)$1,500 loss