Question 2 / speculating with currency options

When would a U.S. firm consider purchasing a call option on euros for hedging? When would a U.S. firm consider purchasing a put option on euros for hedging? Chapter 5, Question 7. Speculating with Currency Options When should a speculator purchase a call option on Australian dollars? When should a speculator purchase a put option on Australian dollars? Chapter 5, Question 10. Speculating with Currency Call options Randy Rudecki purchased a call option on British pounds for $.02 per unit. The strike price was $1.45 and the spot rate at the time the option was exercised was $1.46. Assume there are 31, 250 units in a British pound option. What was Randy's net profit on this option? Chapter 5, Question 11. Speculating with Currency Put options Alice Duever purchased a put option on British pounds for $.04 per unit. The strike price was $1.80 and the spot rate at the time the pound option was exercised was $1.459. Assume there are 31, 250 units in a British pound option. What was Alice's net profit on the option? Chapter 5, Question 12. Selling Currency Call options Mike Suerth sold a call option on Canadian dollars for $.01 per unit. The strike price was $.76, and the spot rate at the time the option was exercised was $.82. Assume Mike did not obtain Canadian dollars until the option was exercised. Also assume that there are 50,000 units in a Canadian dollar option. What was Mike's net profit the call option