Don buys a straddle on Lehigh that has a strike price of $40.45. The premium of the call is $1.05 and the premium of the put is $1.85. Calcuate the profit or loss on buying the straddle if at the time of expiration the price per share of Lehigh is $40.75. $ ___

Place your answer with dollars and cents without a dollar sign. Enter negative answers with a "minus" sign. For example, if your answer is negative two dollars and seventy five cents, then enter -2.75.