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8. You have $50,000 to invest in shares of XYZ that currently trade at $50. You choose to invest 20% of your funds in long-term

8. You have $50,000 to invest in shares of XYZ that currently trade at $50. You choose to invest 20% of your funds in long-term call options with a strike of $60 that currently are quoted at $1.35. The options expire in 1 year. The other funds will be placed into a money market account earning 0.8%, compounded monthly. How much in dollars would the stock price have to increase in order for you to breakeven on this strategy? ROUND TO 2 DECIMALS

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