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.
(a)$400
(b)$600
(c)$300
(d)$200
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