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Mary holds 100 shares of XYZ Company and is concerned about potential downside risk. She decides to implement a protective put strategy by purchasing put

Mary holds 100 shares of XYZ Company and is concerned about potential downside risk. She decides to implement a protective put strategy by purchasing put options with a strike price of $50. The current stock price is $55, and the put options cost $3 each. Calculate Mary's total investment in the protective put strategy and determine her breakeven stock price.

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