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A European style call option on British pound has a strike price of $1.69/. Assume the spot exchange rate is $1.75/ and the option value

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A European style call option on British pound has a strike price of $1.69/. Assume the spot exchange rate is $1.75/ and the option value is 2 cents. What will be your payoff? 4 cents None of the answers is correct You break even You lose the premium of 2 cents 6 cents

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