You establish a straddle on Fincorp using September call and put options with a strike price of $$80.$

The call premium is $$7\mathrm{.}00$ and the put premium is $$8\mathrm{.}50.$

Do not multiply $100$ in answering the following questions.

What is the most you can lose on this position? $($Input the loss amount as positive value. Round your answer to $2$ decimal places.$)$

What will be your profit or loss if Fincorp is selling for $$88$ in September?

$($Input the amount as positive value even if it's a loss. Round your answer to $2$ decimal places.$)$