Question 5 1 pts In March 2020, Karl took a long forward position for 80 million British Pound in 3 months, i.e., June 2020, at the price of $1.5 per British Pound. Your counterparty is an international trade company. In June 2020, the dollar market price of British Pound (i.e., exchange rate between British Pound and US dollar) was $1.2 per British Pound. What did the forward contract obligate Karl to do in June 2020? Sell 80 million British Pound at the price of $1.2 per British Pound. Buy 80 million British Pound at the price of $1.5 per British Pound. Buy 80 million British Pound at the price of $1.2 per British Pound. Sell 80 million British Pound at the price of $1.5 per British Pound