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John Love sold a put option on Canadian dollars for $0.02 per unit. The strike price was $ 0.64, and the spot rate at the
John Love sold a put option on Canadian dollars for $0.02 per unit. The strike price was $ 0.64, and the spot rate at the time the option was exercised was $0.67. Assume John immediately sold the Canadian dollars received when the option was exercised. Also assume that there are 161,938 units in a Canadian dollar option. What was John's net profit or loss on the put option? (If it is a loss, put a negative sign in front of your answer. Round your answer to two decimal places)
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