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A wheat put option with a strike price of $4.00/bushel, a premium of $0.25/bushel and a current wheat futures price of $3.80/bushel has an intrinsic

A wheat put option with a strike price of $4.00/bushel, a premium of $0.25/bushel and a current wheat futures price of $3.80/bushel has an intrinsic value of:

a) $0.05/bushel b) $0.25/bushel c) $0.20/bushel d) $4.00/bushel

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