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XYZ Inc has purchased 306 call options on the shares of ABC Corp with each option giving XYZ Inc the right to buy one ABC

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XYZ Inc has purchased 306 call options on the shares of ABC Corp with each option giving XYZ Inc the right to buy one ABC Corp common share at a strike price of $82.50 per share. XYZ paid $2.89 for each option. Two months later, on the next financial reporting date, the market value of each option is $8.39 per option, while each ABC Corp share is trading at $89.75 per share. XYZ exercises all the options immediately after this financial reporting date and then also immediately sells all shares acquired as a part of the option exercise. What will be the absolute value of the change in XYZ's cash balance following these transactions immediately after the financial reporting date? Ignore any commissions. O a. $2,219 O b. $2,163 O c. $2,052 O d. $2,108 O e. $1,997

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