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XYZ share price is currently $40. You are considering two possible investment strategies to profit from a predicted fall in XYZ share price: () short

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XYZ share price is currently $40. You are considering two possible investment strategies to profit from a predicted fall in XYZ share price: () short sell 60 shares at the spot price, or (ii) enter a long put option (quoted at $3) which allows you to sell 100 shares at a strike price of $30. Calculate the share price at which the two strategies generate the same net profit. Do not enter the dollar sign ($)

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