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The market price of a stock is $35.00. An investor has purchased a call option for 100 shares of stock. The exercise price is $20.00.

The market price of a stock is $35.00. An investor has purchased a call option for 100 shares of stock. The exercise price is $20.00. Calculate the intrinsic value on this contract. Select one: a. $3,500 b. $2,000 c. The intrinsic value cannot be determined without the time value. d. $1,500 e. $0

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