50. A company buys and sells the minimum number of integral puts to create a "pay later" position to hedge against decreases in the price of an asset. The put premiums for 1-year European options are as follows: Strike Price Put Price 50 4.31 56.43 8.62 The risk-free rate is 6% compounded continuously. Calculate the com- pany's combined profits on the puts if the spot price at expiration is $45. A. -1.43 B. -0.43 C. 0 D. 0.43 E. 1.43