Suppose that Apples current stock price is $120.56 and a call option with a 3-month maturity

on Apple stock and an exercise price of X = 130 currently sells for $7.00. Suppose that you

buy one call contract and hold it till expiration. Keeping in mind that a call contract is written

on 100 shares, determine the dollar payoffs, dollar and percentage profit/loss for this option

position for each of the following closing prices of Apple stock (ST) on option expiration day

a) ST= 120

b) ST= 130

c) ST= 145