If you buy a put option for $100,000 face value long-term Treasury bonds for a 2-point premium and a strike price of 110 points (1 point = $1,000) that expires at the end of June, and at the end of June the price of the contract is 105, then you will

A. exercise the option and earn a profit of $3,000

B. exercise the option and earn a profit of $7,000

C. not exercise the option

D. exercise the option and earn a profit of $5,000