3. A put on Sanders stock with a strike price of $40 is priced at $1.60 per share while a call with a strike price of $40 is priced at $3.90. The maximum per share loss to the writer of a put is and the maximum per share gain to the writer of a call is a. $40.00/$3.90 b. $41.60/$43.90 c. $38.40/$3.90