A 6-month call option on Meyers Inc.'s stock has a strike price of $45.00 and sells in the market for $8.75. Meyers' current stock price is $48.00. What is the option premium? Do not round your intermediate calculations.
A. $5.06
B. $4.95
C. $5.75
D. $5.46
E. $5.69
Answer: C
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