The current spot exchange rate is $1.250 = 1.00 and the three- month forward rate is $1.280 = 1.00. Consider a three-month American call option with a strike price of $1.200 = 1.00. A call option contract specifies $125,000. If you pay an option premium of $3,125 to buy a contract of this call, at what exchange rate will you break-even? O $1.175 per euro 1.225 per euro O $1.255 per euro O $1.275 per euro