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Suppose you purchase the June 2014 put option on corn futures with a strike price of $4.90. Assume your purchase was at the last price.

Suppose you purchase the June 2014 put option on corn futures with a strike price of $4.90. Assume your purchase was at the last price. Use Table 23.2 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 $4.74 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.) $ What is your net profit or loss if corn futures prices are $4.98 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.) $

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