Suppose you took a long position on a put option with an exercise price of $2.35 per pound and paid a premium of $0.28 per pound. Required: a. If the spot exchange rate turns out to be $2.50 per pound on the maturity date, is the put option in-, at-, or out-of-the-money? b. If the spot exchange rate turns out to be $2.50 per pound on the maturity date, will you exercise this option? c. If the spot rate at maturity turns out to be $2.30 per pound, is the contract ins, at-, or out-of-the-money? d. If the spot rate at maturity turns out to be $2.30 per pound, will you exercise this option