The current spot exchange rate is $1.65=C1.00 and the three-month forward rate is $1.50=61.00. Consider a three-month American put option on 662,500 with a strike price of $1.65=61.00. If you pay an option premium of $5,000 to buy this put, at what exchange rate will you break-even? $1.57=61.00 $1.47=1.00 $1.65=61.00 $1.42=61.00