2. Three call options on a stock have the same expiration date and strike prices of $37, $39, and $41. The option premiums are $2, $4, and $8. a. Explain how a long butterfly spread can be created.

b. Construct a table & a diagram showing the profit from the strategy.

c. For what range of stock prices would the long butterfly spread lead to a profit/loss?

Need with an adjusting journal entrycmc records depreciation and amortization expense annually. they do not use an accumulated amortization account. (i.e. amortization expense is recorded with a debit to amort. exp and a credit to the patent.) annual depreciation rates are 7% for buildings/equipment/furniture, no salvage. (round to the nearest whole dollar.) annual amortization rates are 10% of original cost, straight-line method, no salvage. cmc owns two patents: patent #fj101 and patent #cq510. patent #cq510 was acquired on october 1, 2016. patent #fj101 was acquired on april 1, 2018 for $119,000. the last time depreciation & amortization were recorded was december 31, 2017.before adjustment: land: 348791equpment and furniture: 332989building: 876418patents 217000