On 1st October, stock OINK that pays a dividend of 8% p.a. twice a year (September and March) is currently traded at 95 EUR. The risk-free interest rate is 10% and March put with strike 105 EUR has a premium of 15 EUR. 1 Is the option in-the-money or out-of-the-money? 2 What is the intrinsic and extrinsic (time) value? 3 What is the maximum loss of the portfolio (long stock + long put)? 4 What is the maximum profit of the portfolio? why?

Please explain carefully and add the formula