In June 2016, the spot exchange rate for the British Pound was $1.4255/. Suppose that at the same time Luther Industries entered into a contract to purchase goods with a price of 400,000 to be delivered in one year. There is a one-year call option contract available to Luther which will allow the company to purchase 10,000 for $1.50/. If Luther purchases 40 option contracts, and the spot rate at the time the contract is due is $1.3465/, how much will Luther pay for the goods? Explain