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The current spot exchange rate is $1.55 = 1.00 and the three-month forward rate is $1.51 = 1.00. You buy a put option on 62,500

The current spot exchange rate is $1.55 = 1.00 and the three-month forward rate is $1.51 = 1.00. You buy a put option on 62,500 with a strike price of $1.59 = 1.00 and pay an option premium (price) of $0.05 per euro. If the exchange rate at expiration is $1.41 = 1.00, what is your profit or loss from the option position?

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