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A put option has a strike price of $27.50 and a stock price of $20.00. If the put option is trading at $12.00, what is

A put option has a strike price of $27.50 and a stock price of $20.00. If the put option is trading at $12.00, what is the time value embedded in the option?

$6.60

$5.75

$7.50

$4.50

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