Hedging With Put Options. As treasurer of Killam Corp. (a U.S. exporter to New Zealand), you must decide how to hedge (if at all) future receivables of NZD 3,000,000 (NZD = New Zealand dollar) 90 days from now. Put options are available for a premium of USD .03 per unit and an exercise price of .42 NZDUSD. The forecasted NZDUSD spot rate in 90 days follows:

Future Spot Rate (NZDUSD): .44, .40, .30

Probability: 40% 50% 10%

Given that you hedge your position with options, create a probability distribution for USD to be received in 90 days.