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SHOW FULL WORK WITH FORMULA!!!!! You form a collar by buying a put with an exercise price of X1 = $45 and a premium of

SHOW FULL WORK WITH FORMULA!!!!!

You form a collar by buying a put with an exercise price of X1 = $45 and a premium of P = $3, and selling a call with an exercise price of X2 = $107 and a premium of C = $5. Both options mature in 6 months, and both have the same underlying asset. In addition, you buy the underlying asset for its current spot price of S = $60. Find the profit of this collar at expiration if the ending price of the underlying asset is ST = $58. Do NOT use the $ symbol in your answer; just write a numerical value. Of course, include the negative sign if the answer is negative; but do not include the positive sign if the answer is positive.

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