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Suppose you purchase one put contract on stock MEXO with strike price of $110 and a maturity of one year for a put premium of

Suppose you purchase one put contract on stock MEXO with strike price of $110 and a maturity of one year for a put premium of $3. Stock MEXO is currently trading at $120, and the one-year riskless rate of return is 4%. What is the maximum net profit that you could possibly gain from your investment in the put contract?

A. $9,400 B. $10,691 C. $9,200 D. $8,900 E. $10,168

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