Please provide the work/explanation on how to get the correct solution that is circled. Thanks!

re to search ming Seanted 0/1 pts Question 8 ( un You are the treasurer of Arizona Corp and must decide how to hedge a fyture payable of 350,000 Australian dollars due 180 days from now. Call options with a 180-day expiration date are available for a premium of $o.03/AD and an exercise price of so.50/AD. The forecasted spot rate in 180 days is: Possible $/AD in 180 days $0.46/AD $0.48/AD $o.52/AD 30% 30% 40% The 180-day forward rate is $o.50/AD. What is the probability the call option will be exercised in 180 days? You Answ.rau Correct Answer 40%