Question: Please show WORK for the answer. I do not understand the step by step process of this 7. You purchased a put option for an

Please show WORK for the answer. I do not understand the step by step process of this

7. You purchased a put option for an Apple stock at the strike price of $110. The option premium was $1. You held the option until maturity, when the price for each share of Apple was $111. Your profit at maturity was A. $-1 B. $1 C. $0 D. -$2

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