A stock that pays no dividends has a price of $40. If the interest rate is zero, then which if the following statements is valid?

	A.	The insurance value of the three-month call is the same as that of the two-month call.
	B.	The time value of the three-month call is the same as that of the two-month call.
	C.	The three-month call is worth less than the two-month call.
	D.	The intrinsic value of the three-month call is less than that of the two-month call.