Time left 1:42:17 On December 1, 2016, Corgi Co., a U.S. firm, sold merchandise to Huskie Co. of Canada for 150,000 Canadian dollars (CAD). Collection of the receivable is due on February 1, 2017. Corgi purchased a foreign currency put option with a strike price of $0.97 (U.S.) on December 1, 2016. This foreign currency option is designated as a cash flow hedge. Relevant exchange rates follow: Date Spot Rate 12/1/16 12/31/16 2/1/17 $0.97 $0.95 $0.94 Select one: Compute the fair value of the foreign currency option at February 1, 2017. Premium $0.05 $0.04 $0.03 a. $3,000 b. $1,500 c. $6,000 O d. $7,500 Oe. $4,500