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An investor purchased a $20 call on MSFT when the underlying was $27, paying $9 altogether. After Microsoft appreciates to $30, the $20 call has
An investor purchased a $20 call on MSFT when the underlying was $27, paying $9 altogether. After Microsoft appreciates to $30, the $20 call has $1 of time value. Therefore, it would be priced at... a $8
b $9
c $10
d $11
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