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Suppose a corporate treasurer asks you to construct the following derivative: I will have 1 million GBP to sell in 6 months. If the exchange

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Suppose a corporate treasurer asks you to construct the following derivative: "I will have 1 million GBP to sell in 6 months. If the exchange rate is less that 1.61, I want you to give me 1.61. If it is greater than 1.67, I will accept 1.67. If the exchange rate is between 1.61 and 1.67, I will sell the British Pound for the exchange rate" Plot the payoff of this derivative as a function of the USD/GBP exchange rate in 6 months. How could you use options to construct the derivative

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