For risk management purposes, Rania decided to both own the stock and short a call on the stock. She entered this position with 105 contracts each containing 100 strategies. She bought the stocks initially for $ 37.5 per stock and sold the call for $ 11.75 with a strike price of

$ 26.75. The expiration of the contract is within 2 months.

a/ What is the amount of her initial investment