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Michael shorts one share of a stock index for 50 and buys a 60-strike European call option on that stock that expires in 1 year

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Michael shorts one share of a stock index for 50 and buys a 60-strike European call option on that stock that expires in 1 year for 10. Assume the annual risk-free interest rate is 3%. The stock index increases to 75 after 1 year Calculate the profit on Michael's combined position

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