Suppose you took a long position on a put option with an exercise price of $2.15 per pound and paid a premium of $0.24 per pound. Required: If the spot exchange rate turns out to be $2.30 per pound on the maturity date, is the put option in-, at-, or out-of-the-money? If the spot exchange rate turns out to be $2.30 per pound on the maturity date, will you exercise this option? If the spot rate at maturity turns out to be $2.10 per pound, is the contract in-, at-, or out-of-the-money? If the spot rate at maturity turns out to be $2.10 per pound, will you exercise this option