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7) An American-style call option with six months to maturity has a strike price of $63. The underlying stock now sells for $65. The call

7) An American-style call option with six months to maturity has a strike price of $63. The underlying stock now sells for $65. The call premium is $15. What is the time value of the call?

a.$15

b.$13

c.$48

d.$2

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