You buy a straddle, which means you purchase a put and a call with the same strike price. The put price is $2.20 and the call price is $3.70. Assume the strike price is $40.

a.	What are the expiration date profits to this position for stock prices of $30, $35, $40, $45, and $50? (Round your answer to 2 decimal places. Negative amounts should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)

Stock price		Call payoff		Put payoff		Total payoff		Total profit
$30		$		$		$		$
$35		$		$		$		$
$40		$		$		$		$
$45		$		$		$		$
$50		$		$		$		$

b.	What are the break-even stock prices? (Round your answer to 2 decimal places. Omit the "$" sign in your response.)

	High Low
Break-even prices