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Pandora corporation has purchased currency call options to hedge a 66,500 euro payable. The premium is $0.05 (per unit of euro) and the exercise price

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Pandora corporation has purchased currency call options to hedge a 66,500 euro payable. The premium is $0.05 (per unit of euro) and the exercise price of the option is $1.55 per euro. If the spot rate at the time of maturity is $1.51 per euro, what is the total amount paid by the corporation if it acts rationally (after accounting for the premium paid)? $104,000 $100,415$106,400 $103,740

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