You are given the following information concerning a stock and a call option and a put option

Price of the stock $42

Strike price (both options) $40

Price of the call $6

Price of the put $3

Expiration date three months

a. What is the call's intrinsic value?

b. What is the time premium paid for the call?

c. What is the put's intrinsic value?

d. What is the time premium paid for the put?

e. If the price of the stock declines to $25, what is the maximum amount you could lose by buying the call?