You work for StillwaterCreek corporation and the firm's finance department head informs you that the firm will receive 1,000,000 pounds in 2 months. You also have access to the information in the accompanying table. Your firm wants to purchase a put option to hedge the receivables, and the option will be exercised at maturity if necessary. Find the total dollar amount your firm will receive (after accounting for the option premium) in 2 months. Exercise price $1.11 Premium $.03 Spot rate $1.15 2-month forward rate $1.23 Expected spot rate in 2 months $1.14 $1,120,000. $1,110,000 $1,080,000 $1,140,000. $1,200,000