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You purchased six put option contracts on Mitsubishi Industries. The strike price was $43.50 and the option premium was $1.50. On the expiration date, the

You purchased six put option contracts on Mitsubishi Industries. The strike price was $43.50 and the option premium was $1.50. On the expiration date, the stock was valued at $40.40 a share. What is the payoff on the option contracts

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