Two Bnish pound (c) put options are available with exercise prices of $1.64 and 51.67 . The premiums associated with these options are 50.04 and $0.05 per unit, tespectively, One option contract represents {31,250 a. Describe how a bull spread can be constructed using these put options: What is the difference between using put options versus call options to construct a bull spread? A bull spread can be constructed whth buymg the put option.and writing the put option. The difference between using call and put options to construct a bull spread is that using put options results in a spread. b. Complete the worksheet for the bull spread. Use a minus sign to enter loss values, if any, If the answer is zero, enter "0". Round your answeis to the nearest cent. c. At option expiration, the spot rate of the pound is $1.64. What is the bull spreader's rotal gain or loss? Use a minus sign to enter loss values, if any. Round your answer to the nearest dollar $ d. At option expiration, the spot rate of the pound is $1.62. What is the beat spreader's total gain or loss? Use a minus sign to enter loss values, if any, Round your answer to the nearest dollac. $