The price of a stock at end of one year is 60. a one year standard lookback put pays 8. Calculate the payoff of a one year extrema lookback call with strike price 55 payoff of various lookback options are:

standard lookback call: S - m

standard lookback put: M - S

extrema lookback call: max(M -K, 0)

extrema lookback put: max(K - m, 0)

The question says to calculate the payoff of a 1yt extrema lookback call... with K = 55.