An option's intrinsic value is equal to * :the amount the option is in the money, and the time value is the intrinsic value minus the market value. out of the money, and the time value is the market value minus the intrinsic value. in the money, and the time value is the market value minus the intrinsic value. An analyst is determine the value of a put option with a one-period binomial model. Using an up-move size of 25% and a risk-free rate 3 3 and the expected value of option is equal to $3.00. The analyst should determine that the value of the put * :option is greater than $3.00 equal to $3.00 less than $3.00