A manufacturer of tofu bought a November call option on the futures market in August at $6.50/bushel due to the expected tight supply of soybeans in November. The local basis in November was expected to be $0.35/bu. When November arrived, the futures contracts were actually $6.75 and the basis was as expected. What was the profit made by the manufacturer?
1) Cannot be determined
2) $0.35/bu
3) $0.40/bu
4) $0.25/bu