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The following 3-month European call options are available on the stock of Gonzalez International, whose stock is trading at 42.80: Strike Price () Call Price

The following 3-month European call options are available on the stock of Gonzalez International, whose stock is trading at 42.80: Strike Price () Call Price () 40 6.80 50 2.00 60 1.20 What is the maximum profit realised at maturity from a long butterfly spread created from these call options? Assume a risk-free rate of 5%

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