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You just purchased Stock A in the spot market at $38 and a put option at $1. The strike price of the put option is

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You just purchased Stock A in the spot market at $38 and a put option at $1. The strike price of the put option is $35. i) What is the maximum profit of your position? (3 marks) ii) What is the maximum loss of your position? (3 marks) iii) What is the breakeven price of your position? (4 marks)

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