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Santa bought an option contract on Telstra shares with an exercise price of $60 and an expiry date of three months. The market price for

Santa bought an option contract on Telstra shares with an exercise price of $60 and an expiry date of three months. The market price for Telstra shares today is $56.85. The call price is trading at $0.45.

b) At what minimum share price will the option buyer exercise the option on the expiration date?

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