"It is 12 o'clock now."
Can somebody help me understand the grammar here? 在 in previous lessons seems to generally be used as a marker of location translating closely to "is in", but here it seems to indicate time. I'm tempted to read 现在十二点 as now "is" (在) 12:00, but that would seem to use the word differently from how it was used in earlier lessons. Or is 在 not a verb here at all?