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Suppose you purchase the June 2014 put option on corn futures with a strike price of $5.20. Assume your purchase was at the last price.

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Suppose you purchase the June 2014 put option on corn futures with a strike price of $5.20. Assume your purchase was at the last price. Use Table 23. How much does your option cost per bushel of corn? (Round your answer to 5 decimal places, e.g 32.16161.) Option cost per bushel What is the total cost for one contract? Assume each contract is for 5,000 bushels. (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) Total cost Suppose the price of corn futures is $4.99 per bushel at expiration of the option contract. What is your net profit or loss from this position? (Enter your answer as a positive value. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Profit What is your net profit or loss if corn futures prices are $5.28 per bushel at expiration? (Enter your answer as a positive value. Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.) Loss

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