Cheek

On November $1,2023,$ Good Life Company forecasts the purchase of raw materials from a Chilean supplier on February $1,2024,$ at a price of $20,000,000$ Chilean pesos. On November $1,2023,$ Good Life pays $$1,500$ for a three$-$month call option on $20,000,000$ pesos with a strike price of $$0\mathrm{.}0015$ per peso. On December $31,2023,$ the option has a fair value of $$1,100.$ The following spot exchange rates apply:

$\backslash$table$[[,$U$.$S$.$ Dollar per Chilean$],[$Peso $($CLP$),],[$November $1,2023,$$$0\mathrm{.}0015$