You are cautiously bullish on the common stock of the Wildwood Corporation over the next several months. The current price of the stock is $51 per share. You want to establish a bullish spread to help limit the cost of your option position. You find the following option quotes:

Wildwoood Corp Underlying Stock price: $51.00
Expiration	Strike	Call	Put
June	46.00	8.60	2.05
June	51.00	4.55	3.10
June	56.00	2.05	7.60

Suppose you establish a bullish spread with the puts. In June the stock's price turns out to be $54. Ignoring commissions, the net profit on your position is _______________.