For this and the next 3 questions:

Assume that you buy a share of stock, and a put option: Purchase price of Stock A: $40 Put option strike price: $40 Option expires in 90 days Price of put option: $8 CV means the value of the combination of your shares and options minus whatever you paid to buy the options.

What is the CV in dollars if the stock goes up to 55? (Do not use $ sign.)