Suppose you purchase the June 2014 put option on corn futures with a strike price of $5.15. Assume your purchase was at the last price. Use Table 23.2

How much does your option cost per bushel of corn? (Round your answer to 5 decimal places, e.g., 32.16161.)

Option cost $  per bushel

What is the total cost for one contract? Assume each contract is for 5,000 bushels. (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)

Total cost $   

Suppose the price of corn futures is $4.94 per bushel at expiration of the option contract. What is your net profit or loss from this position? (Enter your answer as a positive value. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

(Click to select) LossProfit $   

What is your net profit or loss if corn futures prices are $5.23 per bushel at expiration? (Enter your answer as a positive value. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

(Click to select) LossProfit $