Consider a stock priced at $30 with and the compounded risk-free rate is 0.05. There are put and call options available at exercise prices of 30 and a time to expiration of six months. The calls are priced at $2.89 (premium) and the puts cost $2.15 (premium). There are no dividends on the stock and the options are European. Assume that all transactions consist of 100 shares or one contract.

3.Suppose the investor constructed a protective put. At expiration the stock price is $25. What is the investor's profit?