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1. You buy a call option with a strike price of $85 for $13. At expiration, the underlying stock price is $108. a. What

1. You buy a call option with a strike price of $85 for $13. At expiration, the underlying stock price is $108. a. What is the payoff? b. What is the profit? C. What is the break-even price (where profit = $0)

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