Use the following information to determine the probability distribution of net gains per unit from purchasing a call option on British pounds.

Spot rate of the British pound is $1.45

Premium on the British pound option is $0.04 per unit.

Exercise price of a British pound option is $1.46

Your expectation of the British pound spot rate prior to the expiration of the option is:

Possible Outcome for Future Spot Rate Probability

$1.48 30%

$1.49 40%

$1.52 30%