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If an employee option to buy 1,200 shares of the employers stock has a strike price of $16.00 and on October 23, 2020 the stocks

If an employee option to buy 1,200 shares of the employers stock has a strike price of $16.00 and on October 23, 2020 the stocks market price is $15.50, what is the intrinsic value of this option? (This option does not expire until December 31, 2021.)

A. $0

B. $600.00

C. $1,200.00

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