Alice duever purchased a put option on british pounds for


(Speculating with currency Put options) Alice Duever purchased a put option on British pounds for $0.04 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 Britissh pound option. What was Alice's net profit on the option?  

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Finance Basics: Alice duever purchased a put option on british pounds for
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