Today is the expiration day of a put option on the euro that you purchased two weeks ago when the spot rate was $1.1160/. The strike rate on the option is $1.0890/ and the premium was $0.0340/6 1. a. What were the intrinsic value and the time value of the put at the time of purchase? b. If today's spot rate is $1.0780/, would you exercise? How much would your payoff be (payoff is value of option position at expiration)? How much would your profit/loss be? Repeat part b above assuming today's spot rate is $1.0420/. At what expiration spot rate would you break even? c. d