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Viner Co., an Australian company, has developed the following probability distribution for the spot rate of the Chinese yuan (CNY) against the Australian dollar (A$)

Viner Co., an Australian company, has developed the following probability distribution for the spot rate of the Chinese yuan (CNY) against the Australian dollar (A$) in six months to buy put options on CNY1.52 million with an exercise price of A$0.3929 and a premium of A$0.0393.

A$0.2268 [39 per cent probability]

A$0.4876 [27 per cent probability]

A$0.5257 [(100-39-27) per cent probability]

What is the expected value of the cash to be received in A$ from the put option hedge? (enter the whole number without sign and symbol)

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