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Suppose you purchase the July 2020 call option on corn futures with a strike price...

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Accounting

Suppose you purchase the July 2020 call option on corn futures with a strike price of $3.35. Assume you purchased the option at the last price of the day. Use Table 23.2 ;
a. How much does your option cost per bushel of corn? (Do not round intermediate calculations and round your answer to 5 decimal places, e.g.,32.16161.)
b. What is the total cost of your position? Assume each contract is for 5,000 bushels. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.)
c. Suppose the price of corn is $3.31 per bushel at expiration of the option contract. What is your net profit or loss from this position? (Do not round intermediate calculations and enter your answer as a positive value rounded to 2 decimal places, e.g.,32.16.)
d. What is your net profit or loss if corn futures prices are $3.53 per bushel at expiration? (Do not round intermediate calculations and enter your answer as a positive value rounded to 2 decimal places, e.g.,32.16.)
Answer is complete but not entirely correct.
\table[[a.,Option cost,$,3.35000,\table[[per],[bushel]]],[b.,Total cost,$,16,750.00x,],[c.,Loss,$,16,750.00x,],[d.,Profit,$,15,850.00,]]
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