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A) A stock is at $51.27. The strike (exercise) price of a three-month call option is at $54.87. The call option is priced at $2.85,

A) A stock is at $51.27. The strike (exercise) price of a three-month call option is at $54.87. The call option is priced at $2.85, the time value of the option is $____ (please use 2 decimal places)

B) A stock is at $50.05. The strike (exercise) price of a three-month call option is at $47.33. The intrinsic value of the call option is $____. (please use 2 decimal places)

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