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The spot rate for British pounds is $1.2478 and a six-month American FX put on the British pounds has a strike price of $1.2200. The

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The spot rate for British pounds is $1.2478 and a six-month American FX put on the British pounds has a strike price of $1.2200. The six-month GBP LIBOR is 0.84% and the six-month USD LIBOR is 2.06%. What is the minimum price the option should sell for in a rational market? $.0278 $.354 $.0350 $0

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