Determine the exercise value of the option
A 6-month put option on Makler Corp.'s stock has a strike price of $47.50 and sells in the market for $8.90. Makler's current stock price is $41.00. What is the exercise value of the option?
a)$6.10b)$7.30c)$6.50d)$6.05e)$6.45
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