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O True False QUESTION 38 Purchasing Call Options: A call option on Michigan stock specifies an exercise price of $55. Today the stock's price is

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O True False QUESTION 38 Purchasing Call Options: A call option on Michigan stock specifies an exercise price of $55. Today the stock's price is $54 per share. The premium on the call option is $3. Assume the option will not be exercised until maturity, if at all. What is the breakeven point of the option? D $58 $56 $55 QUESTION 39 2 100%

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