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You purchased eight call option contracts on IBM stock with a $3.00 premium and a $60.00 strike price. If at expiration IBM stock is selling

You purchased eight call option contracts on IBM stock with a $3.00 premium and a $60.00 strike price. If at expiration IBM stock is selling for $64.00, what is the value of your position if you exercise? Report your answer to the nearest penny.

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