Use the option quote information shown here to answer the questions that follow. The stock is currently selling for $74.

Calls

Puts

Option and NY Close

Expiration

Strike Price

Vol.

Last

Vol.

Last

RWJ

Mar

69

244

4.60

174

4.70

Apr

69

184

10.45

141

9.45

Jul

69

153

11.30

57

12.95

Oct

69

74

12.20

25

11.85

b-1.	Are the put options in the money?
	multiple choice 2 Out In

b-2.	What is the intrinsic value of an RWJ Corp. put option contract? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)