Cullumber Company purchases a call option contract to purchase $170$ shares of

Ivanhoe Company stock on January $2,2025$ when Ivanhoe is trading at $$120$ per share. The cost of the call option contract was $$50.$ If the price of Ivanhoe stock increases to $$140$ per share at June $30,2025$ and a market appraisal indicates that the time value of the call option contract is $$20$ at that date, Cullumber will record:

Select answer from the options below

a$-$ Unrealized Holding Gain $$ Income of $$3350$ and Unrealized Holding Loss $$ Income of $$30.$

b$-$ Unrealized Holding Gain $$ Income of $$3400$ and Unrealized Holding Loss $$ Income of $$30.$

c$-$ Unrealized Holding Gain $$ Income of $$3370.$

d$-$ Unrealized Holding Gain $$ Equity of $$3400$ and Unrealized Holding Loss $$ Income of $$30.$