1. (13) Using the information provided below answer the following three questions. Put options on Australian dollar Today's date: December 1, 2020 - Spot Exercise price January 2021 maturing put option 75.29 74.00 1.30 75.29 74.50 2.00 (a) What is the intrinsic value for January 2021 maturing put option with an exercise price of 74.00? Show or explain your answer. b) For January 2021 maturing put option with an exercise price of 74.00, explain what will happen to its intrinsic value as we get closer and closer to the expiration date. (c) For January 2021 maturing put option with an exercise price of 74.50. explain what will happen to its time value as we get closer and closer to the expiration date