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A Cake Depot call option with the strike price 5 5 is priced at $ 3 . 1 0 . Cake Depot stock is currently

A Cake Depot call option with the strike price 55 is priced at $3.10. Cake Depot stock is currently selling for $53.12. Calculate a time value of the option.
Round the answer to two decimal places.
Correct answer : 3.10

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