Reference the options chain for Caterpillar, Inc. (ticker: CAT) shown below. You plan to construct a bull call spread using the $110 strike and the $115 strike. You are only buying one of each respective option contract. What is your net premium paid? State your answer in total dollar terms (i.e., total out-of-pocket cost not factoring transaction costs), not contract-level terms. Your answer should be a dollar amount with two decimal places of accuracy.

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CAT Option Chain
Month: Nov 2020
Calls	Puts
Last	Change	Bid	Ask	Volume	Open Int.	Strike	Last	Change	Bid	Ask	Volume	Open Int.
12.40	--	14.80	15.45	--	32	100.00	10.70	-0.27	10.55	10.90	12	426
11.75	--	12.05	12.65	--	154	105.00	13.00	-0.65	12.85	13.25	28	403
10.05	+0.74	9.75	10.10	10	211	110.00	15.54	--	15.50	15.95	--	308
7.70	+1.70	7.70	8.10	2	622	115.00	18.64	--	18.40	18.95	--	292
Expires 11/20/2020		Last Trade: $105.41 (as of May 15, 2020 11:06)