The premium on a British Pound put option with an exercise price of 1.60 expiring in 3 months is $.031 per unit. What is the break-even spot rate for…

The premium on a British Pound put option with an exercise price of 1.60 expiring in 3 months is $.031 per unit. What is the break-even spot rate for the buyer of the put? What is the breakeven point for the seller of the put? (Assume zero transactions costs and that the buyer and seller of the put option are speculators.)

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