Suppose that an investor buys a ABC 50 call expiring in 1 month when the stock price is $49. The price of an option to buy one share is $4.50, so the up-front payment is $450. Also assume that the commission for the broker is a fixed cost of $30. Suppose that the stock price rises to $60 at the end of maturity, and the investor decides to exercise the option. There is a 0.75% commission to exercise the option and also a 0.75% commission to sell the stock. What is his profit?