1. The price of a stock is $40. The price of a one-year European put option on the stock with a strike price of $32 is quoted as $8 and the price of a one-year European call option on the stock with a strike price of $48 is quoted as $6. Suppose that an investor buys 100 shares, shorts 200 call options, and buys 200 put options.
   1. Show the traders Payoff, Initial Cash Flow, and Profits by setting up and completing a relevant table for all possible stock price ranges.
   2. Compute all possible breakeven points for the investors portfolio.

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