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Spirit Airlines has a contract that gives them the opportunity to purchase up to 11,000 gallons of jet fuel at $4.00 per gallon. The current

Spirit Airlines has a contract that gives them the opportunity to purchase up to 11,000 gallons of jet fuel at $4.00 per gallon. The current market price of jet fuel is $4.34 per gallon. Spirit believes they will only need 6,000,000 gallons of jet fuel. What is the value of this opportunity?

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