You work as an option trader at Deutsche Bank. You are neutral on the market and considering setting up a neutral strategy with butterfly spread. The following table contains the information on Lotus stock options. You will use these options to build a butterfly spread.

Strike PriceOption PremiumCall option 160$7.10Call option 265$4.30Call option 370$2.50

a. What is the cost to set up this strategy? b. What is the highest profit of this strategy? c. What is the maximum loss of this strategy? d. What is the profit if the stock close at $61 on expiration? e. What is the profit if the stock close at $64 on expiration? f. What is the profit if the stock close at $67 on expiration?