lemons corp. will receive 451,000 Singapore dollars (SGD) in 60 days. The current spot rate is USD 1.0817/SGD. The 60-day European call options on the Singapore dollar with an exercise price of USD 1.2572/SGD are traded with a premium of USD 0.08 while the 60-day European put options on the Singapore dollar with an exercise price of USD 1.2818/SGD are traded with a premium of USD 0.05. Suppose, Clemons corp. wants to hedge its position using options. If the spot rate in 60 days is USD 1.4298/SGD, determine the companys net receipt in USD if it acts rationally.

Select one:

a. 622,290

b. 644,840

c. 686,602

d. 722,682