Suppose a platinum mining firm sells Mrs. Fiske 1 warrant. The firm has 2 shares outstanding. Mr. Gould owns one share and Ms. Rockefeller owns the other share. The assets of the firm are seven ounces of platinum, which were purchased at a price of $500 per ounce shortly before the warrant was sold. The warrant allows the holder to purchase 1 share in the firm for an exercise price of $1,800. All funds that enter the firm are used to purchase more platinum. (a) What was the price of the firm’s stock before the warrant was sold? (b) What is the lowest platinum price where Mrs. Fiske would find it in her interest to exercise her warrant? (c) suppose the price of platinum suddenly rises to $520 per ounce. If Mrs. Fiske exercises her warrant, how much will she profit from the exercise? (d) Suppose the price of platinum suddenly rises to $520 per ounce. Suppose that no warrant had been issued and that Mrs. Fiske instead exercised a call option to purchase 1 share for $1,800, how much will she profit from exercising the option?