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3. You purchase 100 shares of common stock of XYZ stock for $$63/share and 1 put option contract (1 contract corresponds to 100 shares of

3. You purchase 100 shares of common stock of XYZ stock for $$63/share and 1 put option contract (1 contract corresponds to 100 shares of XYZ stock). The put option has a strike price of $60 and the market price for the option is $5. Construct a table showing the payoff and profit (on a per share basis) from the strategy. For what range of stock prices would this portfolio lead to a loss?

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