On June 1, 2020, Tyre Industries (Tyre) purchased a call option for $8,000 giving it the right to buy 4,000 shares of Inflated Corp. for $30 per share until December 31, 2020. June 30, 2020, similar options were being traded at $13,900 and the market value of Inflated Corp. shares was $31. Tyre updated the option value to reflect its market value Then, on August 31, 2020 Tyre Industries updated the option value to reflect its market value of $14,000. On September 4, 2020, Tyre exercised the options when Inflated Corp shares traded at $35. You are required to select the alphabet of the one best answer to each of the questions listed below and input it in the computer. [17] The time value of the option at June 30, 2020 is Select one: O a. $13,900. Ob $4,000 OC $9.900 Od $8.000