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1. A put option has a strike price of $4.78 and a premium of $0.01. At expiration, the price of the underlying is $4.81. What

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1. A put option has a strike price of $4.78 and a premium of $0.01. At expiration, the price of the underlying is $4.81. What is the breakeven price of the option? Ignoring the premium, what is the profit or loss to the option holder at expiration

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