You have purchased a call option contract on Dash common stock. The option has an exercise price of $64.00 and Dashs stock currently trades at $60.00. The option premium is quoted at $5.00.

a. Calculate your net profit on the option contract if Dashs stock price rises to $72.00 and you exercise the option.

b. Calculate your net profit on the option contract if Dashs stock price rises to $67.00 and you exercise the option.

c-1. If the stock price is $65.00, what would be the gain or loss if you exercise, and if you do not exercise the option.

c-2. Based on your answers above would it be more profitable to exercise the option or not exercise the option?