Suppose the premium on a 91-day 35-strike XYZ Company stock call is $6.13 and the premium on a put with the same strike price is $0.44, and the premium on a 91-day 40- strike XYZ stock call is $2.78 and the premium on a put with the same strikee price is $1.99, while the premium on a 91-day 45-strike XYZ stock call is $0.97 and the premium on a put with the same strike price is $5.08. In addition, the continuously compounded annual interest rate is 8%. You implement a strategy consisting of (1) the purchase of both a 45-strike XYZ call and a 35-strike XYZ put, and (2) the sale of both a 40-strike XYZ call and a 40-strike XYZ put. What is the profit or loss from Part (1) of this strategy at expiration (in 91 days) if the stock price is $10 at that time? (Reminder: Identify Part (1) of the strategy first before computing its combined profit/loss.) $23.56 loss $18.56 loss $28.56 loss $23.56 gain $18.56 gain $28.56 gain