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An investor purchases a put option on XYZ Corporation with a strike price of $55. The current market price of XYZ stock is $53, and

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An investor purchases a put option on XYZ Corporation with a strike price of $55. The current market price of XYZ stock is $53, and the investor pays a premium of $7 for the put option. What is the time value of this option? $2.00.$5.00.$2.00.$7.00$7.00.$0.00.$5.00.$9.00

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