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A call option on the stock of Bedrock Boulders has a market price of $7. The stock sells for $28 a share, and the option

A call option on the stock of Bedrock Boulders has a market price of $7. The stock sells for $28 a share, and the option has an exercise price of $24 a share.What is the exercise value of the call option? $ What is the option's time value? $

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