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Suppose you purchase the June 2014 call option on corn futures with a strike price of $5.05 at the last price of the day. Use

Suppose you purchase the June 2014 call option on corn futures with a strike price of $5.05 at the last price of the day. Use Table 23.2 How much does your option cost per bushel of corn? (Do not round intermediate calculations. Round your answer to 5 decimal places, e.g., 32.16161.) Option cost $ per bushel 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.) Total cost $ Suppose the price of corn is $4.97 per bushel at expiration of the option contract. What is your net profit or loss from this position? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Enter your answer as a positive value.) $ What is your net profit or loss if corn futures prices are $5.20 per bushel at expiration? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Enter your answer as a positive value.) $

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