Mega Company believes the price of oil will increase in the coming months. Therefore, it decides to purchase call options on oil as a price$-$risk$-$hedging device to hedge the expected increase in prices on an anticipated purchase of oil.

On November $30,20$X$1,$ Mega purchases call options for $16,000$ barrels of oil at $$35$ per barrel at a premium of $$2$ per barrel with a March $1,20$X$2,$ call date. The following is the pricing information for the term of the call: