Quantum Inc. has warrants outstanding that allow the holder to purchase 1.0 shares of stock per warrant at $21 per share (exercise price). Thus each individual share can be purchased at $21 with the warrant. The common stock is currently selling for $28. The warrant is selling for $10.00. a. What is the intrinsic (minimum) value of this warrant? (Do not round intermediate calculations and round your answer to 2 decimal places.) Intrinsic value b. What is the speculative premium on this warrant? (Do not round intermediate calculations and round your answer to 2 decimal places.) Speculative premium c. What should happen to the speculative premium as the expiration date approaches? Speculative premium should decrease. Speculative premium should increase. Speculative premium should not change