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Suppose that put options on a stock with strike prices $40 and $45 cost $3 and $6, respectively. How can the options be used to

Suppose that put options on a stock with strike prices $40 and $45 cost $3 and $6, respectively. How can the options be used to create a bull spread? What are the payoff and profit of the bull spread if stock price is $38, $42, and $46 at maturity, respectively?

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