a$.$ Calculate the intrinsic value for each of the following call options. $($Round your answers to $2$ decimal places.$)$

b$.$ Now assume that the effective annual interest rate is $6\mathrm{.}82\%,$ which corresponds to a monthly interest rate of $0\mathrm{.}55\%.$ Calculate the

present value of each call option's exercise price and the adjusted intrinsic value for each call option. $($Round your answers to $2$

decimal places.$)$