Answer the questions given the following information: 
a. Is the call "out" of the money?
b. What is the time premium paid for the call?
c. What is the maximum possible loss from buying the call?
d. What is the maximum profit the buyer of the call can earn?
e. What is the maximum profit the seller of the call can earn?
Definitions:
Accommodation
In psychology, the process of modifying existing cognitive schemas, perceptions, and understandings to integrate new information.
Analytic Approach
A technique for solving issues by dividing a complicated subject or material into more manageable pieces, facilitating a deeper comprehension of it.
Information Processing
a cognitive approach that likens the mind to a computer, focusing on how information is input, stored, and retrieved.
Heuristic
A rule of thumb, or shortcut method, used in thinking, reasoning, and/or decision making.
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