John Doe recently acquired 5 0 0 shares of TECorp at $ 5 4 . 0 0
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Question:
John Doe recently acquired shares of TECorp at $ per share and has opted to engage in writing covered calls against these holdings. Consequently, he has sold five TECorp calls at the present market price of $ These calls possess a remaining term of three months until expiration and feature a strike price of $ Additionally, the stock yields a quarterly dividend of $ per share, with the next dividend anticipated in roughly a month.
Calculate the total profit that John will realize if the stock ascends to $ per share by the expiration date of the calls.
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