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The price of XYZ stock at time 0 is 40 . Annual effective interest is at rate 5%. Call and put option (European) values for various strike prices are: It is assumed that XYZ stock pays no dividends. a) Formulate the payoff and profit on a protective put with a strike price of 50. b) Verify the put-call parity relationship for the listed option prices. c) Describe the payoff and profit at time 1 of a bull spread consisting of a purchased call with strike price 42 and a written call with strike price 50 . d) Formulate the payoff and profit on a collar and a collared stock based on strike prices 40 and 50. The price of XYZ stock at time 0 is 40 . Annual effective interest is at rate 5%. Call and put option (European) values for various strike prices are: It is assumed that XYZ stock pays no dividends. a) Formulate the payoff and profit on a protective put with a strike price of 50. b) Verify the put-call parity relationship for the listed option prices. c) Describe the payoff and profit at time 1 of a bull spread consisting of a purchased call with strike price 42 and a written call with strike price 50 . d) Formulate the payoff and profit on a collar and a collared stock based on strike prices 40 and 50