You establish a straddle on Walmart using September call and put options with a strike price of $85. The call premium is $7.25 and the put premium is $8.00.

Required:

a. What is the most you can lose on this position? (Input the amount as positive value. Round your answer to 2 decimal places.)

b. What will be your profit or loss if Walmart is selling for $89 in September? (Input the amount as positive value. Round your answer to 2 decimal places.)

c-1. What is the Break-even price for lower bound? (Round your answer to 2 decimal places.)

c-2. What is the Break-even price for upper bound? (Round your answer to 2 decimal places.)