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An investor implements a collar strategy by purchasing 100 shares of the Tesla stock at a price of $1040 per share, selling 100 call options
An investor implements a collar strategy by purchasing 100 shares of the Tesla stock at a price of $1040 per share, selling 100 call options on the Tesla stock with a strike price $1080 per share, and buying 100 put option on the Tesla with a strike price of $1000. The premium of each call option is $85 and the premium of each put option is $80. If stock price at the maturity of the option turns out to be $1070. What is the investors' profit? Please provide your answer in unit of dollars (without the dollar sign), rounded to the nearest cent.
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