$9.$ Marge$$s Mooses buys a $6-$month call option on Canadian dollars for a premium of $$\mathrm{.}03$ with a strike price of $$1\mathrm{.}04.$ At expiration, the spot rate for the Canadian dollar is $$1\mathrm{.}08.$ If there are $100,000$ units in a Canadian dollar option contract, what was Marge$$s net profit in U$.$S$.$ dollars? $(5$ points$)$

$10.$ Bitcoin Bank expects the euro to appreciate against the U$.$S$.$ dollar from its spot rate of $$1\mathrm{.}10$ to $$1\mathrm{.}15$ over the next $6$ months $(180$ days of a $360-$day year$).$ To take advantage of the euro appreciation, Bitcoin Bank considers borrowing U$.$S$.$ dollars and investing them in euros for $180$ days. The annualized borrowing and lending rate in the euro is $4\%.$ The annualized borrowing and lending rate in the U$.$S$.$ dollar is $6\%.$ What will be the expected gain $($or loss$)$ in U$.$S$.$ dollars if Bitcoin Bank tries this strategy? $$

$11.$ Compare the theories of interest rate parity $($IRP$),$ purchasing power parity $($PPP$),$ and the international Fisher effect $($IFE$).$