$4.$A$)$ You purchased seven call option contracts with a strike price of $$59$ and a premium of $$2\mathrm{.}5.$ What is the total net $?$ amount you will receive for your shares if you exercise this contract when the underlying stock is selling for $$45\mathrm{.}5$a share?

b$)$ What if the selling price was $62\mathrm{.}52$ instead of $45\mathrm{.}50$ What is your total profit or loss on your option position?