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8. For a call option on Sun Valley stock, if the current market price is $28 per share, the strike price is $32 per share,

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8. For a call option on Sun Valley stock, if the current market price is $28 per share, the strike price is $32 per share, and the option value is $5 per share. a. what is this call option's intrinsic value and time value? (3 points) b. If the option is a put option, what's the intrinsic value and time value? (3 points)

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