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

Suppose you purchase the July 2020 put option on corn futures with a strike price of $3.00. Assume your purchase was at the last price. Use Table 23.2.
a.
How much does your option cost per bushel of corn? (Round your answer to 5 decimal places, e.g.,32.16161.)
b. What is the total cost for one contract? 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 futures is $2.92 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 are $3.09 per bushel at expiration? (Do not round intermediate calculations and enter your answer as a positive value rounded to 2 decimal places, e.g.,32.16.)
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