Can I apply for L1B while having expired H1B with valid cap exempt?

Hello,I am currently working in India and have H1B visa which got expired on 2nd sept 2017 (petition approved in 2014). I was in United States for 15 months during VISA tenure. 1. How much time it takes to get H1B renewed?2. Can i apply for premium processing?3. Also meanwhile my employer wants me to apply for L1B. Can I apply for L1 Visa while extending H1B?Thanks in advance