4. Suppose a platinum mining firm sells Mrs. Fiske 1 warrant. The firm has 2 shares outstanding. Mr. Gould owns one share and Ms. Rockefeller owns the other share. The assets of the firm are seven ounces of platinum, which were purchased at a price of $500 per ounce shortly before the warrant was sold. The warrant allows the holder to purchase 1 share in the firm for an exercise price of $1,800. All funds that enter the firm are used to purchase more platinum. (a) [5 points] What was the price of the firms stock before the warrant was sold? (b) [5 points] What is the lowest platinum price where Mrs. Fiske would find it in her interest to exercise her warrant? (c) [5 points] Suppose the price of platinum suddenly rises to $520 per ounce. If Mrs. Fiske exercises her warrant, how much will she profit from the exercise? (d) [5 points] Suppose the price of platinum suddenly rises to $520 per ounce. Suppose that no warrant had been issued and that Mrs. Fiske instead exercised a call option to purchase 1 share for $1,800, how much will she profit from exercising the option?