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The existing spot rate of the Canadian dollar is $.85. The premium on a Canadian dollar put option is $.04. The exercise price is $.87.

The existing spot rate of the Canadian dollar is $.85. The premium on a Canadian dollar put option is $.04. The exercise price is $.87. The option will be exercised on the expiration date if at all. If the spot rate on the expiration date is $.83, the profit per unit is:

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