Question $50$

An analyst gathers the following information on an option contract:

Option type: call

Exercise price: $$28\mathrm{.}00$

Spot price: $$30\mathrm{.}00$

Option's market price: $$3\mathrm{.}00$

Calculate the time value of the option $($in $ $).$ Round your final answer to $2$ decimal places.