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Suppose you purchase the July 2 0 2 0 call option on corn futures with a strike price of $ 3 . 1 0 .

Suppose you purchase the July 2020 call option on corn futures with a strike price of $3.10. Assume you purchased the option at the last price of the day. Use:Table 23.2
a. How much does your option cost per bushel of corn? (Do not round intermediate calculations and round your answer to 5 decimal places, e.g.,32.16161.)
b. What is the total cost of your position? Assume each contract is for 5,000 bushels. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.)
c. Suppose the price of corn is $3.01 per bushel at expiration of the option contract. What is your net profit or loss from this position? (Do not round intermediate calculations and enter your answer as a positive value rounded to 2 decimal places, e.g.,32.16.)
d. What is your net profit or loss if corn futures prices re $3.46 per bushel at expiration? (Do not round intermediate calculations and enter your answer as a positive value rounded to 2 decimallplaces, e.g.,32.16.)
\table[[a.,Option cost,$,0.10500,per bushel],[b.,Total cost,$,525.00,],[c.,Loss,$,525.00,],[d.,Profit,$,1,275.00,]]
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