The intrinsic value of a call is:I. the value of the call if it were about to expire.II. equal to the lower bound of a call's value.III. another name for the market price of a call.IV. always equal to zero if the call is currently out of the money.A.I and III onlyB.II and IV onlyC.I and II onlyD.II，III，and IV onlyE.I，II，and IV only27. The intrinsic value of a put is equal to the:A.lesser of the strike price or the stock priceB.lesser of the stock price minus the exercise price or zeroC.lesser of the stock price or zeroD.greater of the strike price minus the stock price or zeroE.greater of the stock price minus the exercise price or zero.28. Which of the following statements are correct concerning option values?I. The value of a call increases as the price of the underlying stock increases. II. The value of a call decreases as the exercise price increases.III. The value of a put increases as the price of the underlying stock increases. IV. The value of a put decreases as the exercise price increases.A.I and III onlyB.II and IV onlyC.I and II onlyD.II and III onlyE.I，II，and IV only29. The value of a call increases when:I. the time to expiration increases.II. the stock price increases.III. the risk-free rate of return increases.IV. the volatility of the price of the underlying stock increases.A.I and III onlyB.II，III，and IV onlyC.I，III，and IV onlyD.I，II，and III onlyE.I，II，III，and IV