Use the option quote information shown here to answer the questions that follow. The stock is currently selling for $$40.$

Option Expiration Strike Price Calls Puts

Volume Last Volume Last

Macrosoft February $38852\mathrm{.}3537\mathrm{.}24$

March $38613\mathrm{.}1522\mathrm{.}93$

May $38224\mathrm{.}87112\mathrm{.}44$

August $3836\mathrm{.}1533\mathrm{.}56$

a$.$ Suppose you buy $10$ contracts of the February $38$ call option. How much will you pay, ignoring commissions?

Suppose you buy $10$ contracts of the February $38$ call option and Macrosoft stock is selling for $$43$ per share on the expiration date.

b$-1.$ How much is your options investment worth?

b$-2.$ What if the terminal stock price is $$39?$

Suppose you buy $10$ contracts of the August $38$ put option.

c$-1.$ What is your maximum gain?

c$-2.$ On the expiration date, Macrosoft is selling for $$32$ per share. How much is your options investment worth?

c$-3.$ On the expiration date, Macrosoft is selling for $$32$ per share. What is your net gain?

Suppose you sell $10$ of the August $38$ put contracts.

d$-1.$ What is your net gain or loss if Macrosoft is selling for $$34$ at expiration?

Note: Enter your answer as a positive value. Do not round intermediate calculations.

d$-2.$ What is your net gain or loss if Macrosoft is selling for $$41$ at expiration?

Note: Enter your answer as a positive value. Do not round intermediate calculations.

d$-3.$ What is the break$-$even price?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$