Consider a non-dividend-paying stock with the current stock price of $32. Calculate the intrinsic value and time value of the following options on the stock where time to maturity is six months:

a) An American call option with a strike price of $35 that sells for $1.70.

b) An American put option with a strike price of $45 that sells for $13.

c) A European put option with a strike price of $45 that sells for $12.07.