Question: Consider: (a) Stock trades for $100; (b) Puts with exercise prices of $90, $100, and $110 trade at prices of $3.26, $7.73, and $13.58 respectively.

Consider: (a) Stock trades for $100; (b) Puts with exercise prices of $90, $100, and $110 trade at prices of $3.26, $7.73, and $13.58 respectively. If a person buys a $110 put and writes a $90 put, at what price will she break even? Please answer correctly up to two decimal places.

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