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b. Now assume that the effective annual interest rate is 6.94%, which corresponds to a monthly interest rate of 0.56%. Calculate the present value of

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b. Now assume that the effective annual interest rate is 6.94%, which corresponds to a monthly interest rate of 0.56%. Calculate the present value of each call option's exercise price and the adjusted intrinsic value for each call option. (Do not round your intermediate calculations and round your final answers to 2 decimal places.)

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