Speculating with Currency Put Options. Bulldog, Inc., has sold Australian dollar put options to $PQR$ at a premium of $$\mathrm{.}01$ per unit, and an exercise price of $$\mathrm{.}76$ per unit. It has forecasted the Australian dollar's lowest levels as $$0\mathrm{.}72,$$$0\mathrm{.}73,$$$0\mathrm{.}76,$$$0\mathrm{.}78$ and $$0\mathrm{.}80$ over the period of concern. For put option, the holder sells therefore the writer must buy at the strike price if the option is exercised.

a$)$ Identify the holder and writer of the option.

b$)$ Determine whether or not the option will be exercised at the predicted exchange rates.. c$)$ Determine the net profit $($or loss$)$ per unit to both Bulldog, Inc. and PQR$,$ if each level

occurs.