Will only upvote immediately if answered before 8 PM.

You buy a single call option contract on Tesla stock with a strike price of $550 at a premium of $27.50. Tesla stock is currently selling at $570, and you think the price will increase to $600 by the expiration date of the option. If you're correct, what will be your total payoff (i.e., intrinsic value) and profit (i.e., time value) on this contract at expiration? $20.-$7.50 $50, $22.50 $5,000 $2,250 $2,000.-$7,500