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With the Price of the Stock at $60 Per Share,a

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With the price of the stock at $60 per share,a put option is purchased with an exercise price of $58 per share.The option is exercised after the stock is purchased at $52 per share and results in a gain of 50 percent.What was the price of the option? Ignore taxes and brokerage commissions.
(a)$400
(b)$600
(c)$300
(d)$200

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Definitions:

Racial Superiority

The belief that a particular race or ethnicity is superior to others and deserves to dominate, lead, or be given preferential treatment.

Classification

The systematic arrangement or categorization of entities based on shared qualities or characteristics.

Minority Group

A category of people who experience relative disadvantage as compared to members of a dominant social group within the same society.

Blacks

A term referring to individuals and groups of African descent, often used within the context of discussing racial identity, experiences, and issues in societies.

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