04. Use the stock and option prices below to answer the following questions related to option positions. All options have one year to expiration and exercise prices of X=$40. Price Stock $34.75 Call $3.75 Put $8.50 Suppose you take the following position based on the current prices: purchase one share of stock, purchase TWO Put options, and sell/write one Call option. Using the table below, calculate the payoffs (values) AND profits from this investment strategy for stock prices ranging from $0 to $60. [15 marks] Position Payoffs Put Stock Call Total Payoffs Profit Stock Price 0 20 40 60