You have purchased a put option on Kimberly Clark common stock. The option has an exercise price of $70 and Kimberly Clarks stock currently trades at $71.18. The option premium is $1.29 per contract. One option equals 100 shares of the underlying stock.

a. Calculate your net profit on the option if Kimberly Clarks stock price falls to $68 and you exercise the option. (Negative amount should be indicated by a minus sign. Do not round intermediate calculations.) b. Calculate your net profit on the option if Kimberly Clarks stock price does not change over the life of the option. (Negative amount should be indicated by a minus sign.)