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A call option on a stock specifies an exercise price of $60. Today the stock's price is $54 per share. The premium on the call

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A call option on a stock specifies an exercise price of $60. Today the stock's price is $54 per share. The premium on the call option is $3. Assume the option will not be exercised until maturity, if at all. What would be the net profit/loss if the stock price at the time the call option is about to expire is $50 ? A) $10 gain B) $4 gain C)-$13 Loss D) -$3 Loss E) - $7 Loss

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