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Mary buys 23 call options with a strike price of $85 and a premium of $3 per contract. At what price will she exercise the

Mary buys 23 call options with a strike price of $85 and a premium of $3 per contract. At what price will she exercise the options to earn a profit?

1. At $88 per share or less

2. At $88 per share or higher

3. At $85 per share or less

4. At $85 per share or higher

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