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2. A put option on Snapple Beverage has an exercise price of $30. The current stock price of Snapple Beverage is $34.25. The put option

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2. A put option on Snapple Beverage has an exercise price of $30. The current stock price of Snapple Beverage is $34.25. The put option price is $8.75 a. Is this option an at-the -money option, out-of-the-moncy option, or in-the-money option? b. Compute the intrinsic value and the time value of this option. ajin-the money option

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