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An investor has 3,000 of GE currently valued at $65. He sets up a collar at $58 with a premium of $1.29, and $70 with

An investor has 3,000 of GE currently valued at $65. He sets up a collar at $58 with a premium of $1.29, and $70 with a premium of $3.19. When the collar expires the stock is trading at $87.75

He buys puts

and writes calls

The impact to the portfolio of this collar at the time it is put in place is $

The value of the portfolio at the close on the day the collar expires is $

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