The following quotes for British pounds was noted in the newspaper

The strike price of a September put = $1.5500

Current spot rate = $1.5300 Put premium = $0.04

a) Is the put in the money, or out of the money?

b) What is the intrinsic value of the put and what is the time value component of the Put premium?

c) If the spot rate at expiration is $ 1.5700, then will the put be exercised?

d) What will be the rate of return on investment?