Suppose that in the situation of Table 1.1 a corporate treasurer said: I will have 1 million

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Suppose that in the situation of Table 1.1 a corporate treasurer said: "I will have £1 million to sell in six months. If the exchange rate is less than 1.42, I want you to give me 1.42. If it is greater than 1.48 I will accept 1.48. If the exchange rate is between 1.42 and 1.48, I will sell the sterling for the exchange rate." How could you use options to satisfy the treasurer?
Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...
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