On January $2,2023,$ Sandhill Corporation purchased a call option for $$345$ on Walter Inc's common shares. The call option gives Sandhill the option to buy $1,030$ shares of Walter at a strike price of $$28$ per share any time during the next six months. The market price of a Walter share was $$28$ on January $2,2023($the intrinsic value was therefore $$0).$ On March $31,2023,$ the market price for Walter stock was $$40$ per share, and the fair value of the option was $$16,300.$