NBC stock is sold at $39 per share. The price of a put option with a strike price of $34 is $4.50. Find the intrinsic value and time value of the put option.

		intrinsic value= 3.5, time value= 1
		intrinsic value = 0, time value = 4.5
		intrinsic value = 3, time value =1.5
		intrinsic value = 4.5, time value = 0