A collar is established by buying a share of stock for $63, buying a six-month put option with exercise price $56, and writing a six- month call option with exercise price $70. Based on the volatility of the stock, you calculate that for an exercise price of $56 and maturity of six months, (d) = 0.7300, whereas for the exercise price of $70, n(d1) = 0.6516. Required: What will be the gain or loss on the collar if the stock price increases by $1? (Input the amount as a positive value. Do not round intermediate calculations and round your answer to 3 decimal places.) Answer is complete but not entirely correct. Gain of $ 0.047