Question: You purchase a put option on pounds for a premium of $.03 per unit, with an exercise price of $1.64; the option will not be exercised until the expiration date, if at all. If the spot rate on the expiration date is $1.65, your net profit/loss (loss indicated by a negative sign) per unit is. The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.