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Please explain the answers and show supporting calculations The price of Stock ABC is currently $50. A put option on 100 shares of Stock ABC

Please explain the answers and show supporting calculations
The price of Stock ABC is currently $50. A put option on 100 shares of Stock ABC has an exercise price of $51 and the put premium is $3. A. Is the option currently "in" or "out" of the money? B. What is the intrinsic value and the time value of the option today? C. What is the break-even future stock price associated with the options? D. What is the NET payoff from writing this option if the stock price at expiration is$40

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