Question: (i) (5 points) Consider a call option whose maturity date is T and strike price is K. At any time t < T, is it

(i) (5 points) Consider a call option whose maturity date is T and strike price is K. At any time t < T, is it always the case that the call option's price must be greater than or equal to max(S_t - K, 0), where S_t is the stock price at t? (Your answer cannot be more than 30 words. Answers with more than 30 words will not be graded.)

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