You are given the following information concerning options on a particular stock: Stock price = $64 Exercise price = $60 Risk-free rate = 4% per year, compounded continuously Maturity = 6 months Standard deviation = 35% per year a. What is the intrinsic value of each option? (Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations.) b. What is the time value of each option? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

a. Call option intrinsic value= _________

Put option intrinsic value= _________

b. Call option time value= __________

Put option time value= ___________