What was the net profit on the call option

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XYZ sold a call option on Canadian dollars for $.01 per unit. The strike price was $.76, and the spot rate at the time the option was exercised was $.82. Assume XYZ did not obtain Canadian dollars until the option was exercised. Also assume that there are 50,000 units in a Canadian dollar option. What was XYZ’s net profit on the call option?

Reference no: EM13850496

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