Larry Page, the CEO of Google is granted ten thousand American call options on Google stock. The stock price as of today (the day options are granted) is $650. Assume that options are granted 17.97 dollars out the money. The annual risk free rate is 3% and options expire in 25 months.

The annual standard deviation of stock return for Google is 27%.

(a) What is the strike or exercise price for these options?

(b) What is the intrinsic per share value of options owned by Larry Page as of today

(c) What is the total per share value of options owned by Larry Page as of today.

(d) What is the per share time value of options owned by Larry Page as of today