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A person paid a premium of 5 . 8 5 to buy a one month call option with a strike price of 1 4 5

A person paid a premium of

5.85

to buy a one month call option with a strike price of

145 .

What should the price of the underlying stock be at expiry for him to break even

(

to two decimal places

) ?

For the purpose of this question assume that the interest rate is zero.

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