Johnny purchases 7 three-month put options on Walsh Corp. common stock to protect her current equity investment in the company. Each put option has a strike price of \\( \\$ 24.50 \\) and is priced at \\( \\$ 3.25 \\). Calculate Johnny's total dollar gain or loss on the puts at expiration if Walsh's common stock is trading at (a) \\( \\$ 21.00 \\) (b) \\( \\$ 24.00 \\) (c) \\( \\$ 28.00 \\) MAKE SURE YOU CLEARLY IDENTIFY YOUR ANSWERS TO EACH QUESTION. YOU MUST SHOW ALL CALCULATIONS TO RECEIVE CREDIT