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What was alice’s net profit on the option

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Reference no: EM131117716

Alice Duever purchased a put option on British pounds for $.04 per unit. The strike price was $1.80, and the spot rate at the time the pound option was exercised was $1.59.

Assume there are 31,250 units in a British pound option. What was Alice’s net profit on the option?

Reference no: EM131117716

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