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. Question 2: Tapworth Co. bought call options giving it the right to sell 100 shares of PanGlobal Corp. stock in 30 days at US$100

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. Question 2: Tapworth Co. bought call options giving it the right to sell 100 shares of PanGlobal Corp. stock in 30 days at US$100 per share. Smith Co. sold these options to Tapworth for US$3.00 per share. On the day 30, PanGlobal stock is trading at US$104. Determine Tapworth's and Smith's respective gains and losses on the transaction

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