You write a put on Kane with an exercise price of $3.50 and a premium of $0.50. At the same time you buy a call on Kane with an exercise price also at $3.50 and a premium of $1.25. Calculate the profit or loss on both positions simultaneously if just prior to option expiration Kane's stock price is $3.00. a. ($0.75) b. $0 c. ($0.50) d. ($1.25) e. ($1.75)