Suppose you executed the following trade (strategy) on NPR Ltd using two exercise prices: Long 1 NPR call (X=R50) @ R8.40 Short 2 NPR calls (X =R60) @ R3.34 each All options have identical expiration dates a. What is the cost of initiating such a strategy? [3] b. Graphically depict a fully-labelled Profit and Loss diagram of the strategy highlighting the break- even points, maximum potential profit and maximum potential loss. [15] c. Under what market conditions will this strategy generally make sense? Explain Does the holder of this position have limited or unlimited liability? Explain