Answer questions 26 through 28 about a collar using the March 55 call and Jun 45 put options. Assume the premiums are equal

26. What is the breakeven price?

a. $50

b. $55

c. $45

d. $40

27. What is the profit if the stock price at expiration is $52.50?

a. $250

b. $500

c. $234

d. -$250

28.What is the maximum loss on the strategy?

a. $250

b. $1000

c. $500

d. $0