Mike sold a call option on Canadian dollars for GBP$0\mathrm{.}01$ per unit. The strike price was GBP$0\mathrm{.}42$ and the spot rate at the time the option was exercised was GBP$0\mathrm{.}46.$ Assume Mike did not obtain Canadian dollars until the option was exercised. Also assume that there are $50,000$ units in a Canadian dollar option. What was Mike's profit or loss on the call option?