The following prices are available for call and put options on a stock priced at $$50.$ The risk$-$free rate

is $6$ percent and the volatility is $0\mathrm{.}35.$ The March options have $90$ days remaining and the June

options have $180$ days remaining. The Black$-$Scholes model was used to obtain the prices.

Assume that each transaction consists of one contract $($for $100$ shares$)$ unless otherwise indicated.

Consider a bull money spread using the March $\frac{45}{50}$ calls.

What is the breakeven point?

a$.$ $$41\mathrm{.}98$

b$.$ $$50\mathrm{.}00$

c$.$ none of the above

d$.$ $$55\mathrm{.}66$

e$.$ $$48\mathrm{.}02$