22. (20 pts) Three months ago, Grant purchased one call on XYZ stock at an exercise price of $25 with an option premium of $120 (for 100 shares). The market price of XYZ stock when Grant purchased the call was $24 a share, XYZ is currently priced at $30 a share. a. How much profit will Grant make if he exercises the option today and then sells the shares? What is his holding period return on the transaction? Ignore all transactionrelated costs. b. How much should the stock price be for Grant to break even on his option strategy