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Carl purchased a call option on Apex stock that had a premium of $4, an exercise price of $25, and six-months to expiration. When he
Carl purchased a call option on Apex stock that had a premium of $4, an exercise price of $25, and six-months to expiration. When he purchased the option, Apex was selling at $27 per share. What profit (per share) would Carl earn on his option transaction if Apex sells at $31 per share at expiration?
*please solve algebraically*
a) $0
b) $2
c) $4
d) $6
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