I a) Smith purchased a put option on British pound (GBP) for $0.08 per unit. The strike price was $1.3141 and the spot rate at the time the pound option was exercised was $1.3104. Assume there are 54860 unit in a British pound option. Calculate Smith's net profit (loss) on the option. (4 marks) Ib) Explain FOUR (4) deterninants of the value of call options. (8 marks) I c) Most MNCs become multinational by gradually moving from a relatively low-risk-low-retum strategy to a higher-risk-higher-retum strategy. The process of overseas expansion normally starts with exporting (lowest risk) and finally opening up production in foreign countries (high risk). Identify FOUR (4) common methods of overseas expansion. (8 marks)