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1 . A call option written on a stock has an exercise price of $ 6 5 . The call option price is $ 7

1. A call option written on a stock has an exercise price of $65. The call option price is $7, and the current market price of the stock is $70. The intrinsic value of the call option is closest to:
a. $0.
b. $3.
c. $5.
d. $10.

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