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Consider a 1-year European Call Option with a price of $3 and a strike price of $17.50 that is based on the Exxon Mobil stock

Consider a 1-year European Call Option with a price of $3 and a strike price of $17.50 that is based on the Exxon Mobil stock which has a current share price of $15. Answer the two below questions:

i. What is the payoff for the purchaser of the call option when the Exxon Mobil share price equals $20 at maturity.

ii. What is the total profit for the seller of a call option when the option ends up at the money at the point of maturity

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