Hanson Toy Co. has warrants outstanding that allow the holder to purchase 1.5 shares of stock per warrant at $22 per share (option price). The common stock is currently selling for $28, while the warrant is selling for $12.00 per share (Leave no cells blank - ensure that "O" is entered wherever required.) a. What is the intrinsic (minimum) value of this warrant? (Round the final answer to 2 decimal places.) Intrinsic value $C b. What is the speculative premium on this warrant? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Speculative premium $ c. What should happen to the speculative premium as the expiration date approaches? O Speculative premium should decrease. O Speculative premium should increase O Speculative premium should not change