You buy a straddle on a share of Franklin, Inc with a strike price of

$$51\mathrm{.}00.$ The premium on the call is $$1\mathrm{.}75$ and the premium on the put

is $$1\mathrm{.}25.$ Calculate the net profit or loss from straddle at the time of

expiration the price per share of Franklin is $$$70\mathrm{.}00.$

$$17\mathrm{.}25$

$$-1\mathrm{.}25$

$$18\mathrm{.}50$

$$16\mathrm{.}00$