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A call option on Wilson Basketball's stock has a market price of $5.00. The stock currently sells for $20/share (P), and the option has a

A call option on Wilson Basketball's stock has a market price of $5.00. The stock currently sells for $20/share (P), and the option has a strike price of $15/share (X). What is the exercise value (payoff) of the call option? What is the option's time value based on the option's market price and the exercise value

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