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Suppose you purchase eleven put contracts on Testaburger Co. The strike price is $40, and the premium is $2.50. If, at expiration, the stock is

Suppose you purchase eleven put contracts on Testaburger Co. The strike price is $40, and the premium is $2.50. If, at expiration, the stock is selling for $32 per share, what are your put options worth? What is your net profit?

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