please answer the 2 questions below:

Question 7 (Mandatory) (2.5 points) If deep-out-of-the-money, the long call option position will almost definitely exercise its option. True False Question 8 (Mandatory) (2.5 points) Consider the following example: Strike price = $10 Market price of the underlying asset = $15 Call premium =$7 In this case, what is the short call option position's profit? Please input your answer to the closest cent (hence, your answer must include two digits past the decimal). Please do not use commas or dollar signs