Using the following table, consider an American-style call option on the euro. The current euro spot exchange rate is $0.9657, and each option contract is for 62, 500. Is the 980 call option currently in the money, at the money, or out of the money? b. Suppose that your corporate economist believes the euro may appreciate against the dollar to an exchange value as high as $1.02 or depreciate to an exchange value as low as $0.96. She therefore purchases eight call contracts to partially hedge an underlying short exposure of $750,000. Draw a diagram illustrating the potential loss or gain on eight call contracts. c. Indicate the amount of loss or profit at $0.96, $1.02, and the current spot rate. (Keep all calculations to two decimal places.) d. Indicate the break-even rate. e. Add to your diagram a line indicating the gain and loss on the underlying exposure as the spot deviates from the current level. Indicate the gain or loss at $0.96 and $1.02