Suppose you took a long position on a put option with an exercise price of $\backslash (\backslash$$ $1\mathrm{.}75\backslash )$ per pound and paid a premium of $\backslash (\backslash$$ $0\mathrm{.}16\backslash )$ per pound. Required: a$.$ If the spot exchange rate turns out to be $\backslash (\backslash$$ $1\mathrm{.}90\backslash )$ per pound on the maturity date, is the put option in$-,$ at$-,$ or out$-$of$-$the$-$money? b$.$ If the spot exchange rate turns out to be $\backslash (\backslash$$ $1\mathrm{.}90\backslash )$ per pound on the maturity date, will you exercise this option? c$.$ If the spot rate at maturity turns out to be $\backslash (\backslash$$ $1\mathrm{.}70\backslash )$ per pound, is the contract in$-,$ at$-,$ or out$-$of$-$the$-$money? d$.$ If the spot rate at maturity turns out to be $\backslash (\backslash$$ $1\mathrm{.}70\backslash )$ per pound, will you exercise this option?