Following information about the three-month put option contract on British pound (£)

Following information about the three-month put option contract on British pound (£). Edward, who is a speculator, had purchased this put option and decided to exercise the option shortly before the expiration date, when the spot rate of the pound was A$1.3127/£. Using this information, calculate the net profit/loss from Edward’s purchase. Put option premium on British pound (£) = A$0.0976 per unit Strike price = A$1.61 One option contract represents £10,000 A. - A$ 1865 B. A$ 1965 C. - A$ 1895 D. A$ 1997 E. None of the above.