In mid-May, there are two outstanding call option contracts available on the stock of ARB Co.: Call # Exercise Price $51 1 Expiration Date August 19 August 19 Market Price $8.20 3.12 2 60 a. Assuming that you form a portfolio consisting of one Call #1 held long and two Calls #2 held short, complete the following table showing your intermediate steps. In calculating net profit, be sure to include the net initial cost of the options. Do not round intermediate calculations. Round your answers to the nearest cent. Use a minus sign to enter negative values, if any. If the answer is zero, enter "O". Price of ARB Profit on Call #1 Profit on Call #2 Net Profit on Stock at Expiration ($) Position Position Total Position 40 $ $ 45 $ $ $ 50 $ $ $ 55 $ $ $ 60 $ $ $ 65 $ $ $ 70 $ $ $ 75 $ $ $