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Any thoughts on this option question?
A warrant is the option to buy one share of stock at $40. It expires after one year and currently sells for $10. The price of the stock is $32. What is the maximum possible profit if an investor buys one share of stock and shorts one warrant? What is the range of of stock prices that yields a profit on this position?
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Error in Basic Finance, 9th edition
You probably already know this but just in case you don't -- the cashflow statement for Pier 1 Imports shown on page 177 is incorrect. "Deferred Taxes" and "Other" for years 2003 and 2004 are wrong. I checked Pier 1's 2004 annual on thier website and confirmed this.
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