It is December 10, 2018, and you have decided to purchase 10 January call contracts on SixCo. stock with an exercise price of $50. Because you are buying, you must pay the ask price. Each contract is on 100 shares and the price of this option is $2.05. Ignore any commission fees. The current stock price is $48.35. How much money will this purchase cost you? Is this option in-the-money or out-of-the-money? Why?