You purchased a put option on M common stock. The option has an exercise price of $46 and M's stock currently trades at $48. The option premium is $0.70per share. a. What is your net profit on the option if M's stock price does not change over the life of the option? b. What is your net profit on the option if M's stock price falls to $42 and you exercise the option? (For all requirements, negative amounts should be indicated by a minus sign. Round your answers to 2 decimal places. (e.g., 32.16)) a. Net profit per share b. Net profit per share