ccVerizon buys a 1.3 $/pounds strike put to hedge a 100,000 pounds AR due in 1 month and sells 200,000 pounds in a 1.3 $/pounds strike call to offset the cost of the put. Suppose the exchange rate turns out to be 1.2 $/pounds at the expiration. What is the dollar value of the AR hedged with the options strategy. Write all calculation required.