Assume that a stock is selling for $47 with options available at 20, 30, and 40 strike prices. The 40 call option is at 7 1/2. Calculate the following: (a) The intrinsic value of the $40 call (b) Is the call in the money? (c) The speculative premium on the 40 call option (d) The percent the speculative premium represents of the common stock price.