A trader establishes an option-trading strategy as follows:

One long put option with a strike price of $40, which has a premium of $4.2and.

One short call option with a strike price of $60, which has a premium of$710.

The net payoff diagram for this strategy is depicted as follows:

The upfront cost to establish this strategy is WHAT? Do not enter a +ve or -ve sign for this answer Just enter the dollar amount to 2 decimal places.

if the underlying share price at expiry is $34: The gross payoff on the short call option is ___ The gross payoff on the long put option is ___ The gross payoff to the option-trading strategy is ___

Taking the upfront establishment cost into account, the breakeven point for this option-trading strategy is ___

Enter answers to 2 decimal places.