Mary is concerned about the price of Big Company falling in the near future. In July 2022, she decided to buy put options to protect her position in the stock. The price of the stock dropped to $14 per share. The options have an expiration date of January 2023, an exercise price of $14, and a premium of $2.12. If Mary buys enough options contracts to fully hedge her long position in big Company stock, how much money does she pay for those contracts?

The siocs portioto has a conelation coeffient with the naket of 0.50 The dividend yield ia the curent yicld, "The groweh of the dividend is expected to corain at 38 . "The expected growth of the dividend is zerio. Brown Foreman Stock Robert inherited the stock from his great-aunt Sarah who died in 2015 and who had bought the stock when the price was $42 per share. When Sarah died, she left Robert 100 shares of Brown Foreman stock. Robert knows that on the date of Sarah's death the stock closed at $35 per share with a high price of $38 and low price of $34. The stock has since split two-for-one and has a current dividend yield of 2%. Sarah's executor did not elect the alternate valuation date. Personal Residence The Trenticostas purchased their personal residence for $350,000 nine months ago. They put down 20% from the sale of their previous home. They were able to get a mortgage rate of 7.5% financed over 30 years. Their monthly payment is $1,957.80 (P \& I) with a balance of $278,300.78 and 352 payments remaining. Ski Condo Mary purchased the ski condo three years ago for $300,000 and put 20% down. The balance was financed over 15 years at 7%. The monthly payment is $2,157.18 (P \& I), and they have made 30 payments. The outstanding balance is $215,254.14. Since the purchase of the condo, Mary has incurred the following restoration costs. The Trenticostas use the condo quite often in the winter and summer, but they are usually able to rent it to friends for 14 days per year at $300 per day