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7. A call option on ShipCo stock with exercise price of $55 expires in a month. The stock of ShipCo is currently selling at $51.

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7. A call option on ShipCo stock with exercise price of $55 expires in a month. The stock of ShipCo is currently selling at $51. Which of the following statements regarding this option is true? A. this option is in the money B. the time value of the option is negative C. the time value of the option is zero D. the intrinsic value of the option is negative E. the intrinsic value of the option is zero

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