Consider a stock priced at $50. There are put and call options available at exercise prices of $50. The calls are priced at $3.00 and the puts cost $2.50. There are no dividends on the stock and the options are European-style. Use this information to answer the following questions

a) The price of the underlying stock rises to $57 and you purchased the put with a $50 strike. This put is said to be what in term of its moneyness?

b) What is your profit if you buy only a call option, hold it to expiration, and the stock price at expiration is $57?

c) What is the breakeven stock price at expiration on the call purchased above?