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A call option on Barry Enterprises stock has a market price of $8. The stock sells for $28 a share, and the option has an

A call option on Barry Enterprises stock has a market price of $8. The stock sells for $28 a share, and the option has an exercise price of $24.50.

What is the premium on the option?

Acall option on Barry Enterprises stock has a market price of $9. The stock sells for $28 a share, and the option has an exercise price of $24.50.

What is the exercise value of the option?

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