The spot rate of the New Zealand dollar is $$0\mathrm{.}80.$ A call option on New Zealand dollars with a one$-$year expiration date has an exercise price of $$0\mathrm{.}81$ and a premium of

$$0\mathrm{.}07.$ A put option on New Zealand dollars at the money with a one$-$year expiration date has a premium of $$0\mathrm{.}02.$ You expect that the New Zealand dollar's spot rate will

decline over time and will be $$0\mathrm{.}74$ in one year.

a$.$ Today, Dawn purchased call options on New Zealand dollars with a one$-$year expiration date. Estimate the profit or loss per unit at the end of one year. $[$Assume that the

options would be exercised on the expiration date or not at all.$]$ Use a minus sign to enter loss values, if any. Round your answer to the nearest cent.

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b$.$ Today, Mark sold put options on New Zealand dollars at the money with a one$-$year expiration date. Estimate the profit or loss per unit for Mark at the end of one year.

$[$Assume that the options would be exercised on the expiration date or not at all.$]$ Use a minus sign to enter loss values, if any. Round your answer to the nearest cent.

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