What was the price of the option

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Reference no: EM131079285

With the price of the stock at $60 per share, a put option is purchased with an exercise price of $58 per share. The option is exercised after the stock is purchased at $52 per share and results in a gain of 50 percent. What was the price of the option? Ignore taxes and brokerage commissions. Please show steps.

Reference no: EM131079285

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