on January 3. Vinus Lid purchases a call option for $1200 from Lucy Corp. to buy 1,000 Rerun Ine shares at an exercise price of S42 per share. The option expires May On March 31 (Vinos year end), the market value of the Rerun shares is $44, and the fair value of the option has increased to $14,000 On Apr 15. Vinus takes delivery of (buys) the Rerun shares as agreed in the option contract. The market value of Rerun's shares is now 846 Instructions (show any calculations) Calculate the intrinsic value and the time value of this optional 2 March 31 b. Prepare general journal entries for the following dates 1 3 1 January 3 2 March 31 3. April 15 For the toolbare ALT F10 WG O ALTFR10(Mac