Question: A trader has an existing position of 100 shares of AAPL stock at $275. She decides to purchase a 260 put option for $17 and

A trader has an existing position of 100 shares of AAPL stock at $275. She decides to purchase a 260 put option for $17 and sell a 290 strike call option for $16. Synthetically, this is equivalent to buying a 260/290 bull call spread. Using the properties of put call parity, and ignoring the time value of money function, what is the effective price she paid for the synthetic 260 call option? Please enter your answer as a number with two decimal places (no dollar sign).

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