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Financial Analysis Question # 2 0 : Let's say Investor A decides to purchase a call with a lower strike price, and short a call

Financial Analysis Question # 2 0 : Let's say Investor A decides to purchase a call with a lower strike price, and short a call with a higher strike price. Which of these graphs accurately represents the combined pay-off from those two trades?

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(a) (b) u c) (d) 1

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