Last month when ibm was selling for 86 dan purchased a call, Financial Management

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Last month when ibm was selling for 86 dan purchased a call

Last month when IBM was selling for $86, Dan purchased a call option on IBM with an exercise price of $90 for $2 per option or $200 total. Yesterday, IBM closed at $95. Based on the minimum value of the contract, if Dan sells his call at yesterday's close, what would his return be?

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Financial Management: Last month when ibm was selling for 86 dan purchased a call

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