Both a call and a put currently are traded on stock XYZ; both have strike prices of $47 and expirations of six months.

Required:

a. What will be the profit/loss to an investor who buys the call for $4.45 in the following scenarios for stock prices in six months? (Loss amounts should be indicated by a minus sign. Round your answers to 2 decimal places.)

b. What will be the profit/loss in each scenario to an investor who buys the put for $7.30? (Loss amounts should be indicated by a minus sign. Round your answers to 2 decimal places.)