Question 2. [Intrinsic Value of Options Assume that S = Spot Price (on exercise date) and K = Strike Price. First, compute the Intrinsic Value for each of the following option contracts (Cases (I), (II), and (III) below). Second, for each option contract below, discuss whether the option is: (A) In-the-Money; (B) At-the-Money; or (C) Out-of-Money. Case (1) Put Option with S=180 and K = 195 Case (II) Call Option with S= 85 and K = 100 Case (III) Call Option with S= 12.5 and K = 12.5 (Hint: review Class #6 Presentation, Sections 3 to 3.1, pp. 13 to 14.)