The current spot exchange rate is $1.1500 = 1.00 and the three-month forward rate is $1.1520 = 1.00. Consider a three-month call option on 10,000 with a strike price of $1.1400 = 1.00. If you pay an option premium of $160 (for one contract) to buy this call, at what exchange rate (at the expiration date) will you break even?

Group of answer choices

$1.1560 = 1.00

$1.1660 = 1.00

$1.1240 = 1.00

$1.1680 = 1.00