Concept 21.1-13, 21.15 at, in, or out of the money?

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  1. If the exercise price of an option equals the current stock price, the option is _____.
  2. If the exercise price of a call is greater than the current price, the option is ____.
  3. If the exercise price of a call is lower than the current price, the option is ____.
  4. If the exercise price of a put is greater than the current price, the option is ____.
  5. If the exercise price of a put is lower than the current price, the option is ____.

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