A 32.50 call option on a stock priced at $37.30 is priced at $6.80. This call has an intrinsic value of ______ and a time value of _____.

A stock with a current market price of $50 and a strike price of $45 has an associated put option priced at $3.50. This put has an intrinsic value of ______ and a time value of _____.

The stock price of Bravo Corp. is currently $175. The stock price a year from now will be either $305 or $130 with equal probabilities. The interest rate at which investors invest in riskless assets is 6%. Using the binomial OPM, the value of a put option with an exercise price of $215 and an expiration date 1 year from now should be worth __________ today.