3: An investor buys a 9-month cap on a stock. The price of the call option is $11.97. The current price of the stock is $59. The annual effective risk-free rate is 14%. Determine the range of prices for the stock at expiration for which the investor makes a positive profit. (A) Less than (B) Greater than 3(a): Select (A) 54.89 (B) 51.89 (C) 53.89 (D) 55.89 (E) 52.89 3(b) Select