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2) Suppose that put options on a stock with strike prices $42 and $47 cost $3 and $6, respectively. How can the options be used

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2) Suppose that put options on a stock with strike prices $42 and $47 cost $3 and $6, respectively. How can the options be used to create (a) a bull spread and (b) a bear spread? Construct a table that shows the profit and payoff for both spreads for three possible price ranges

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