Consider the following option portfolio: You write a January 2012 expiration call option on IBM with exercise price $172, and the price of the call option is $8.93. You also write a January expiration IBM put option with exercise price $167, the price of the put option is $10.85. Instructions: enter your answer as a decimal rounded to the nearest cent.

At what stock price will you just break even on your investment (i.e., zero net profit)?

a) For the put, this requires that:

b) For the call, this requires that: