Angelo Martino just purchased 600 shares of AT&E at $62 44, and he has decided to write covered calls against these stocks. Accordingly, he sells 6 AT&E calls at are their current market price of $5.95. The calls have 3 months to expiration and carry a strike price of $64.50. The stock pays a quarterly dividend of 50.75 a share (the next dividend to be paid in about a month). a. Determine the total profit and holding period return Angelo will generate if the stock rises to $64.50 a share by the expiration date on the calls. b. What happens to Angelo's profit (and return) if the price of the stock rises to more than $64.50 a share? c. Does this covered call position offer any protection (or cushion) against a drop in the price of the stock? Explain. a. If the stock rises to $64.50 a share by the expiration date on the calls, the total profit is sl. (Round to the nearest cent)