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An analyst gathers the following information on an option contract: Option type: European call option Exercise price: $28.01 Spot price: $26.50 Option's market price: $2.15

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An analyst gathers the following information on an option contract: Option type: European call option Exercise price: $28.01 Spot price: $26.50 Option's market price: $2.15 Calculate the time value of the option (in \$). Round your final answer to 2 decimal places

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