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Selling Currency Call Option s Mike Suerth sold a call option on Canadian dollars for $.02 per unit. The strike price was $.77, and the

Selling Currency Call Options Mike Suerth sold a call option on Canadian dollars for $.02 per unit. The strike price was $.77, and the spot rate at the time the option was exercised was $.74. 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 Mikes net profit on the call option?

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