Question 22 1 pts Murray Auto has agreed to buy cars for 1,000,000 from Germany. The total invoice is to be paid in 6 months when the cars are delivered. CrownJet of Ohio has agreed to sell a jet for 1,000,000 to a buyer in France. CrownJet will receive the payment in 6 months when the plane is delivered. Both companies are worried about the dollar/euro exchange rate. Murray and CrownJet enter into the forward contract expiring 6 months from now. The $/ spot exchange rate is 1.13. The forward rate is $1.11/. Murray Auto goes long. CrownJet goes short. The contract is cash settled. It is the expiry date. The spot exchange rate is $/ 1.17. On the expiry date: CrownJet pays Murray 40.000 O Murray pays Crown Jet 20,000 o CrownJet pays Murray $60,000 Murray pays CrownJet $20,000 Murray pays CrownJet $60.000 Question 23 1 pts You wrote four put options (each on 100 shares) on EZ stock with an exercise price of $35 per share and an option price of $1.35 per share. Today, the contracts expire and the stock is selling for $36.25 a share. What is your net profit or loss on this investment? Ignore commissions and taxes. Round the answer to the nearest dollar. Enter as positive it a profit, enter as negative if a loss. Hint. You sold puts on 400 shares. The price at expiry is higher then the strike so there is no payoff. The profit is then just the premium you received