Rio Tinto purchased a speculative Call on Packard-Bell common stock on March 12, 2012, for $73. The Call is on 100 shares at a strike price of $51. It expires on July 31, 2012. The following data is available with respect to the Call:
| Rio Tinto purchased a speculative Call on Packard-Bell common stock on March 12, 2012, for $73. The Call is on 100 shares at a strike price of $51. It expires on July 31, 2012. The following data is available with respect to the Call: | ||
| Date | Market Price of Packard-Bell Shares | Time Value of Packard-Bell Option |
| March 31, 2012 | 46 | 63 |
| June 30, 2012 | 48 | 16 |
| July 13, 2012 | 48 | 9 |
| What is the amount of the net gain or loss recorded on the income statement for all periods as of July 13, 2012 on the Call? Enter your response as an absolute number.
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