You purchase 25 call option contracts with a strike price of $45, a premium of $2.77, and four months until expiration a. If the stock price at expiration is $52, what is your dollar (and percent) profit? What if the stock price is $42? b. If you had bought a put contract, how do your answers change?

Input Area: \begin{tabular}{|lrr|} \hline & & 25 \\ Contracts & $ & 2.77 \\ Premium & $ & 45.00 \\ Strike price & $ & 52.00 \\ Stock price & $ & 42.00 \\ Stock price & 4.00 \\ Months to expiration & & \\ Contract cost & $ & 6,925.00 \\ \hline \end{tabular} Output Area