You are given the following information concerning options on a particular stock:

Stock price	=	$60
Exercise price	=	$55
Risk-free rate	=	3% per year, compounded continuously
Maturity	=	3 months
Standard deviation	=	47% per year

a.

What is the intrinsic value of each option?

b.	What is the time value of each option?

You are given the folowing information conceming options on a particular stock cerning options o Stock price = $60 Exercise price = $55 Risk-free rate = 3% per year, compounded continuously Maturity = 3 months Standard deviation = 47% per year a. What is the intrinsic value of each option? (Leave no cells blank -be certain to enter "O" wherever required. Do not round intermediate calculations.) Intrinsic Value Call option Put option 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.) Time Value Call option Put option