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Nancy thinks that Johnson Motor Company's stock price is going to increase from its current price of $22.50 sometime during the next 6 months. Nancy
Nancy thinks that Johnson Motor Company's stock price is going to increase from its current price of $22.50 sometime during the next 6 months. Nancy can buy a 6-month call option on Johnson's stock for a price of $3.10. The call option has an exercise price of $25. If Nancy purchases the call option for $3.10 and Johnson's stock price rises to $45 by the time the option expires, what would Nancy's profit be? O $20.00 O $2.50 O $19.40 O $16.90 O $3.10
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