A-9: Call option

On March 1, 2022, Jensen Corp. purchased a call option on shares of YTV stock. The contract was for 100 shares at a strike price of $90 per share, with an expiration date of May 31, 2022. The option contract premium was $50. On March 31, a market appraisal estimated the time value of the option to be $40. Jensen settled the option contract on May 10. Prices of YTV stock during the option period are provided below.

	March 1	March 31	May 10
Price of YTV stock:	$90	$80	$85

At what amount would Jensen report as the value of the call option in its March 31, 2022 balance sheet?