Use the following information to answer Questions $38-43$

ABC Company's current stock price is $$100.$

The risk$-$free rate is $4\%.$

$38.$ The payoff to the holder of a call option on ABC with an exercise price of $$200$ is closest to:

A$.$ $$100$ if stock price at option expiration equals $$200$

B$.$ Zero if stock price at option expiration equals $$100$

C$.-$$$40$ if stock price at option expiration equals $$160$

$39.$ The payoff to the holder of a put option on ABC with an exercise price of $$200$ is closest to:

A$.$ $$100$ if stock price at option expiration equals $$200$

B$.$ Zero if stock price at option expiration equals $$100$

C$.$ $$40$ if stock price at option expiration equals $$160$

$40.$ Consider a scenario where Annie writes a put option on ABC with an exercise price of $$225.$ If ABC stock price at option expiration equals $$125,$ Annie will most likely:

A$.$ Exercise the option.

B$.$ Have a negative payoff of $$100.$

C$.$ Let the option expire without exercising it$.$

$41.$ Consider a scenario where Arthur writes a call option on ABC with an exercise price of $$225.$ If ABC stock price at option expiration equals $$215,$ Arthur will most likely:

A$.$ Exercise the option.

B$.$ Have a payoff of zero.

C$.$ Let the option expire without exercising it$.$

$42.$ The maximum value of a European put option with an exercise price of $$50$ and $6$ months remaining till expiration is closest to:

A$.$ $$49\mathrm{.}03$

B$.$ $$50$

C$.$ $$100$

$43.$ The minimum value of an American call option with an exercise price of $$80$ and $6$ months till expiration is closest to:

A$.$ $$20$

B$.$ $$100$

C$.$ $$21\mathrm{.}55$