Question: Mark purchased a call option on US Dollar for 0.02 euros per unit. The strike price was 1.50 euros, and the spot rate at the

Mark purchased a call option on US Dollar for 0.02 euros per unit. The strike price was 1.50 euros, and the spot rate at the time the option was exercised was 1.51 euros. Assume there are 31,250 units in a US Dollar option. What was Mark's net profit on the option?

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